XRP has been holding steady around the key $0.50 support level, and traders are closely watching if the altcoin can break free from its recent bearish trend. Despite facing significant selling pressure over the past weeks, XRP has managed to defend this psychological support level, raising questions about whether the bulls can take control and push the price higher toward the $1 mark.

XRP Struggles Amidst Bearish Market Sentiment

XRP’s price action has been largely constrained within a key demand zone, trading around $0.50, well below its recent mid-range level of $0.585. This position signals a broader bearish market sentiment, as both daily and weekly market structures have remained negative.

Although XRP has experienced downward pressure, the strong defense of the $0.50 support level by bulls is noteworthy. In the past three weeks, the $0.5022 support zone has been consistently defended, despite attempts by the bears to break below it. This shows that the sellers might be running out of steam.

However, the market sentiment remains bearish. The Relative Strength Index (RSI) on the daily chart has stayed below the neutral 50 mark for five consecutive weeks, indicating that downward momentum is still dominant. Meanwhile, the Chaikin Money Flow (CMF) is at -0.04, showing mild capital outflow, but not as intensely as seen in October.

Despite this, XRP’s price has managed to avoid further declines, and the $0.50 zone is proving resilient—at least for now.

Liquidation Levels Point to Potential Bounce

A crucial factor to watch for XRP in the near term is its liquidation heatmap. According to the data from Coin glass, XRP has recently gathered significant liquidity around the $0.50 zone, with a noticeable concentration of liquidations around this level. The heatmap suggests that XRP could see a bounce back toward the $0.54 to $0.57 range in the coming weeks, driven by traders covering short positions and buying back into the market.

These liquidity pools often act as support or resistance zones, depending on whether market participants are willing to take long or short positions. A potential bounce from the current support zone would target the $0.54 and $0.57 levels. If bulls can gain sufficient momentum, these price points could serve as stepping stones toward higher levels, possibly even pushing XRP toward a breakout.

However, the strength of the buyers remains uncertain. While the defense of the $0.50 support indicates exhaustion among sellers, it is not yet clear if the buyers have enough momentum to push the price significantly higher.

Short-Term Resistance Levels and Price Targets

XRP faces key resistance levels at $0.57 and $0.63 in the short term. The $0.57 mark, in particular, stands as an important level that could serve as a signal for a potential rally, while the $0.63 level will be a critical test for any upside move. If XRP can push past these levels, it would signal that the bulls are ready to retake control of the market and could open the door for a larger rally.

Traders should keep a close eye on how XRP behaves around the $0.50 to $0.57 range in the coming weeks. If the bounce holds and momentum builds, XRP could see further upside in the short term. However, if the price fails to break above $0.57 and starts to retreat, XRP could revisit its lower support at $0.44, where the 15-month low lies.

Is $1 Within Reach?

The big question on every trader’s mind is whether XRP can reach $1 anytime soon. While the short-term outlook remains uncertain, the ongoing defense of the $0.50 support level and the liquidity buildup at higher levels suggest that the market may be positioning for a potential rally. If buyers gain confidence and momentum, there is a possibility that XRP could test higher resistance levels, including the $0.63 and $0.70 zones.

Reaching $1 would require a substantial shift in market sentiment, likely driven by positive news, increased adoption, or a broader market rally. However, with the current market structure and support levels holding steady, it’s not out of the question that XRP could gradually climb back toward its previous highs—though patience will be required.

Conclusion: Waiting for the Bulls to Gain Momentum

XRP’s price is currently caught in a tug-of-war between the bulls and the bears, with the $0.50 support level playing a crucial role in determining the short-term direction. While the market sentiment remains largely bearish, the bounce from the $0.50 zone and the liquidity buildup around key price levels suggest that a move toward the $0.57 and $0.63 targets is possible in the near future.

Whether XRP can maintain this upward momentum and push toward $1 will depend on the strength of the buying pressure in the coming weeks. For now, investors should monitor key levels closely and prepare for potential price swings as market sentiment shifts.