XRP has recovered above $1.50, supported by improving short-term DMI readings and a bullish MACD setup.
The rally stalled at $1.6562 on Wednesday, Sept. 23, before XRP retraced into Sept. 24. The token subsequently found support near $1.4519 and resumed its rebound.
XRP Rebounds Above $1.50 but Encounters Resistance at $1.5265
After moving lower alongside the broader cryptocurrency market through 10:30 a.m. UTC, XRP bottomed at $1.4519. It then posted eight bullish closes among nine 30-minute candles between 10 a.m. and 2 p.m.
The rebound met resistance around $1.5265, a level that had supported the correction on Wednesday. Sellers eventually pushed the price below it, triggering the pullback to $1.4519.
The $1.5265 area now presents a combined obstacle: it was prior resistance and aligns with the upper trendline of the ascending channel formed during the rebound.
DMI and MACD Signal Stronger Short-Term Momentum
On the 30-minute chart, both the Directional Movement Index (DMI) and MACD have turned positive, indicating that momentum has improved over the past few hours.
The +DI rose from 14.9455 at the start of Sept. 24 to approximately 29.9419 at press time, while the -DI declined from 28.0422 to 17.6617. The ADX stood at 23.9, reflecting the market’s fresh trend-strength reading during the rebound.
The MACD histogram also turned positive over six consecutive 30-minute periods. The MACD line has risen to 0.0019, while the signal line remains below zero at -0.0036 but is increasing.
After falling from $1.5265, XRP retested the ascending channel’s lower trendline at $1.4890 and found support. The token is now testing $1.5265 again, and a sustained close above that level could open the path toward approximately $1.53.
XRP Remains a Top-Ten Performer as Shorts Face Liquidations
Despite the recent pullback, XRP remains among the top 10 cryptocurrencies and is the sector’s biggest seven-day gainer. Its 15.94% weekly gain has outpaced Bitcoin’s 10.04% increase and Ethereum’s 8.68% rise.
The rebound has also put pressure on short traders. XRP futures recorded $3.86 million in liquidations over four hours, including $2.27 million in short positions, or 58.8%. Over a 24-hour period, however, long positions accounted for the majority of liquidations.
Positioning on Binance and OKX remains bullish, with both exchanges reporting long-to-short ratios above 2. The broader XRP futures long-to-short ratio stands at 0.9585, however, indicating a modest overall preference for short positions.
