Crypto analyst ChartNerd stated in a video published on September 28 that XRP could rise to $1.80-$1.90 if it breaks key resistance levels. The analyst's note is based on the fact that the asset has been unable to break the $1.52 level for six weeks. If XRP fails to overcome this resistance again, it could lead to a deeper pullback in the future. The current test for XRP – is the 50-week exponential moving average, located around $1.52. At the time of analysis, XRP was trading at about $1.47, having decreased by 3.5% over the last 24 hours. Over the past seven days, the asset has risen by nearly the same amount. The 24-hour range fluctuated between approximately $1.47 and $1.54, with trading volume increasing by more than 20% to $3.23 billion. Despite this, XRP remains nearly 60% below its all-time high of $3.65.
Additionally, it is reported that XRP ETFs attracted net inflows of $75.89 million over the past week, extending their streak of weekly inflows to 11 weeks. Total inflows amounted to about $1.79 billion. These figures highlight that investors continue to add funds to XRP, even though the token remains below levels identified as resistance. ChartNerd's analysis is based on XRP's long history within the Gaussian Channel. In the past, the bottoms of these cycles often lay below the median regression before major recoveries. For instance, the bottom in June 2022 was followed by a 90% rise to the same lower line, where the Ripple token also peaked and then pulled back before a subsequent breakout. However, the analyst cautioned that XRP does not necessarily have to repeat these patterns.
The current median line around $0.94-$0.95 – is a level that was reached or to which lows fell in 2015, 2017, 2020, and June 2022, while the upper regression of the three-month channel is close to $0.80 and has yet to be tested. Nevertheless, at present, the technical state of XRP depends on the level in the $1.50-$1.52 range, and according to the analyst, its sustained close above these values will change the described chart structure. Failure to break this level will leave the scenario of a deeper pullback on the agenda.
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