<ul> 
 <li><strong>XRP experienced a weekend recovery from its dip below $0.44, with Santiment highlighting its bounce amid broader crypto market corrections. </strong></li> 
 <li><strong>The altcoin faces a significant test at the $0.558 resistance level while aiming to challenge subsequent price barriers. </strong></li> 
 <li><strong>Maintaining the rebound involves overcoming technical challenges amidst its journey towards 2022 highs.</strong></li> 
</ul> 
<p>XRP saw some recovery over the weekend after dropping to lows below $0.44 on August 17th. The altcoin closed back in the green on multiple days, prompting analysis firm Santiment to note XRP’s rebound along with other altcoins following last week’s broad crypto sell-off.</p> 
<p>Santiment <a href="https://twitter.com/santimentfeed/status/1693455463919362267" target="_blank" rel="noopener noreferrer nofollow">suggested</a> the bounce could continue this week as on-chain metrics show traders are still significantly down from local highs. However, XRP faces a key test at the $0.558 resistance level that rejected gains in mid-June.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> After <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> market caps dropped sector-wide last week, several <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#altcoins</a> are scratching their way back, particularly <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LTC</a>, <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a>, &amp; <a href="https://twitter.com/search?q=%24XLM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XLM</a>. With market value to realized value metrics continuing to show traders are down big, don't be surprised if the trend continues this week. <a href="https://t.co/cX8q9Tcu7B" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/cX8q9Tcu7B</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1693455463919362267?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 21, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>Flipping $0.558 to support could extend XRP’s nascent recovery. But the path forward still poses challenges. The daily moving average around $0.63 marks another potential hurdle before XRP can challenge the $0.66 and $0.72 levels. If selling pressure resumes, the 200-day MA at $0.50 remains an intermediate support level to monitor.</p> 
<p>At the time of writing, XRP had pared weekend gains and traded down 3% over the past 24 hours around $0.526. The token dropped 16% over the past week as broader crypto markets corrected. Sustaining its rebound will require overcoming multiple technical barriers on the way back toward XRP’s 2022 highs.</p>

XRP Seeks to Extend Rebound After Dipping Below $0.44

TheNewsCrypto

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