XRP is trading at approximately $2.15, moving within a daily range of $2.07 to $2.19. The market is currently experiencing consolidation, with price movements guided by key technical indicators across multiple timeframes.
XRP has established solid support at $2.00, repeatedly rebounding from this level. The Relative Strength Index (RSI) is nearing the oversold zone, indicating weakening selling pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) suggests a slowdown in bearish momentum, hinting at a potential shift in trend. However, the price remains below major moving averages, making a decisive breakout above resistance necessary to confirm an upward trend.
On the 4-hour timeframe, XRP continues to oscillate within the $2.00 to $2.20 range. The price recently rebounded from the lower boundary and is challenging the $2.19 resistance level. RSI remains close to oversold conditions, suggesting room for a potential upward move. However, with XRP still below the 200-period moving average, a sustained bullish trend has yet to materialize.
In the 1-hour timeframe, XRP is displaying early signs of recovery after testing support at $2.07. The RSI has climbed out of oversold conditions, while MACD is hinting at a bullish crossover. Immediate resistance is found at $2.19, aligning with the day’s peak.
Over the next 12 hours, XRP is likely to trade within a range of $2.07 to $2.20. A successful break above $2.19 with increased volume could push the price toward $2.25. However, if it fails to surpass this barrier, consolidation may persist. On the downside, a drop below $2.07 might lead to a retest of $2.00, with a further decline to $1.95 if bearish momentum strengthens.
XRP’s short-term outlook indicates continued range-bound movement, with the potential for a breakout depending on momentum. Key levels to watch include resistance at $2.19 and $2.25, along with support at $2.07 and $2.00. Traders should stay vigilant and closely monitor market signals to capitalize on emerging opportunities.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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