Ripple Price Forecast: XRP holds $1.50 as rising exchange reserves raise caution

• XRP consolidates early-week gains above the short-term $1.50 support level amid a bullish technical bias.
• XRP Exchange Reserves on Binance rise to 2.68 billion XRP, suggesting increased trading activity or that holders are preparing to sell.
• XRP bulls battle to flip the 50-week and 100-week EMAs into support, backed by strengthening momentum indicators.

Ripple (XRP) trades elevated above $1.52 on Tuesday despite experiencing a minor correction from the previous day’s high of $1.57. XRP framed the uptrend last week, rising alongside the broader bullish cryptocurrency market.

Buying interest broadly increased against the backdrop of the Federal Reserve (Fed) raising interest rates to the 3.75%-4.00% range last Wednesday as well as the United States (US) CLARITY Act, which failed to advance in the Senate.

Continued trading above immediate support at $1.50 could encourage investors to increase exposure, anticipating a continuation of the uptrend toward August highs at $1.70 and the next key hurdle at $2.00. Nonetheless, traders should tread with caution, as retreats could destabilize the market.

XRP faces rising exchange reserves

XRP holders are increasingly transferring their assets to exchanges, as the price edges higher. There’s currently a total of 2.68 billion XRP on the Binance exchange, after rising by nearly 3% from September 1.

Higher exchange reserves suggest investors are moving tokens to the exchange to trade or sell and lock in profits amid higher prices. It is too early to determine the outcome hence, traders should closely watch price movements around key supply and demand zones.

Technical Analysis: XRP bulls broadly retain control

XRP trades at $1.52, maintaining a bullish near-term bias as price holds well above the main Exponential Moving Averages (EMAs). The 50-day EMA at $1.32, the 100-day EMA at $1.28, and the 200-day EMA at $1.36 sit below spot, suggesting a constructive underlying trend, while the SuperTrend line at $1.26 adds structural support.

Momentum remains positive, with the Moving Average Convergence Divergence (MACD) histogram above zero hinting at persistent bullish pressure. The Relative Strength Index (RSI) at 64 reinforces a strong but not yet overbought backdrop.

Immediate support is seen at the 200-day EMA near $1.36, with the shorter 50-day EMA at $1.32 and the 100-day EMA at $1.28 forming a secondary demand band on deeper pullbacks. A more strategic floor emerges around the SuperTrend level at $1.26, where buyers would be expected to defend the broader uptrend. With no structural resistance levels shown on the daily chart, the pair appears technically free to probe higher ground in the near term, as long as daily closes remain above the immediate $1.40-$1.50 psychological demand.

At the same time, the remittance token maintains a bullish near-term bias as price holds above the 50-week EMA at $1.52 and the longer-term 200-week EMA at $1.37. The SuperTrend line at $0.93 sits well below the market, reinforcing a supportive underlying structure, while RSI at 56 suggests constructive but not overextended momentum.

On the topside, initial resistance is defined by the 100-week EMA at $1.59, which marks the next hurdle for bulls and a potential cap on the current advance if rejected. On the downside, immediate technical support sits at the 50-week EMA near $1.52, with a deeper protective layer at the 200-week EMA at $1.37, ahead of the more distant SuperTrend support zone around $0.93.

(The technical analysis of this story was written with the help of an AI tool. Know more.)