XRP Needs a 200-Day Average Reclaim to Stage a 2023-Style Rally Toward $3.20
Key Takeaways
- •XRP traded near $1.34 on October 16, approximately 4% below its 200-day simple moving average, which was located at $1.36 according to COINOTAG data published on October 17.
- •The 200-day simple moving average is computed from a full year of daily closing prices and is among the most widely followed indicators for judging whether an asset is in a sustained uptrend or downtrend.
- •The proposed path toward $3.20 is modeled on XRP's sharp rally in July 2023, which occurred after a US federal court determined that Ripple's programmatic sales of XRP on exchanges were not securities transactions.
- •The $3.20 target is conditional: it only applies if XRP first trades back above its 200-day moving average, a condition that had not been met as of the published data.
- •Because the 200-day average shifts only gradually, its position reflects an asset's standing against its long-term trend rather than short-term price fluctuations.
The bullish case currently attached to XRP comes down to a single line on the chart, and the $3.20 figure only comes into play if the argument behind that line holds.
Data published by COINOTAG on October 17 showed X trading near $1.34 on October 16, approximately 4% below its 200-day simple moving average, which stood at $1.36. The 200-day SMA is calculated from a full year of daily closing prices, smoothing short-term fluctuations into a long-term trend measure, and it is among the most widely followed indicators used to assess whether an asset is in a sustained uptrend or downtrend. Because the measure is built on a full year of closes, it shifts only gradually, so where price sits relative to it reflects an asset's standing against its long-term trend rather than day-to-day noise.
The scenario referenced in the article draws on XRP's performance in 2023. XRP, the native token of the XRP Ledger closely associated with payments company Ripple, rallied sharply in July 2023 after a US federal court ruled that Ripple's programmatic sales of XRP on exchanges did not constitute securities transactions.
According to the article's framing, a replay of that 2023-style advance toward $3.20 is conditional on XRP first reclaiming its 200-day average; the target only exists if that technical threshold is recovered. Reclaiming here means trading back above the average, a level the published data placed at $1.36. On those figures, XRP had not yet met the condition, so the observable checkpoint for the thesis is whether XRP moves back above its 200-day average.
This content was first published on COINOTAG: COINOTAG
