Ripple's 2023 Rally Could Revisit XRP Price as $1.37 SMA Becomes Support

Precedent & Market Context

The 2023 rally in XRP price is a useful technical precedent. In March that year, the token moved above a 200-day SMA near $0.40, then returned toward the broader moving-average zone in May, briefly slipped below it, and recovered. Historical data places the May low near $0.42, while contemporaneous analysis treated $0.40 as the main support area. XRP subsequently reached $0.93 on July 13, a rise of about 134.5% from $0.40.

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XRP Price Analysis

The required XRP price analysis starts with the moving average, not an assumption of a rapid run to higher resistance. The two levels describe different steps in a possible recovery: first, XRP would need to reclaim and hold the cited $1.37 SMA; only then would higher resistance zones become relevant. A rejection below the average would keep the downside condition in place, while a defended retest would make the historical comparison more technically applicable. For now, the near-term signal is the behavior around $1.37.

Conclusion

The XRP price faces a turning point as the 200-day SMA becomes a potential support level. Buyers need to reclaim and hold the average for the historical $3.20 comparison to be applicable. A successful retest of the SMA would offer evidence that the average has shifted from resistance to support, making the larger recovery scenario more relevant. However, the immediate risk is skewed toward further weakness before any larger recovery scenario becomes relevant.