XRP faces key test at $1.23 resistance, analysis suggests

The $1.22–$1.23 range represents a crucial test for XRP's price rebound, according to an analysis by U.Today. The outlet noted that this price zone, a former support level, has now flipped to resistance and aligns with a concentration of short-term moving averages. If XRP breaks through this barrier, it could pave the way for a rise to the next target of $1.32, a level where a significant downward breakout previously occurred. However, the medium- to long-term trend remains bearish, with XRP trading below its 50-, 100-, and 200-day Exponential Moving Averages (EMA). Despite this, the recent rebound is considered the strongest rally since the token fell below its 50-day EMA. The analysis concludes that whether XRP can reclaim the resistance level will be a key factor in determining both a long-term trend reversal and a short-term rebound.