XRP has been fluctuating between $2.48 and $2.52 in the last hour. It has a market capitalization of $144 billion and recorded a 24-hour trade volume of $7.57 billion. In that time, the price has ranged from $2.38 to $2.59.
Hourly Chart: Consolidating Around $2.50
On the hourly chart, XRP is in a phase of consolidation around $2.50. After reaching a local peak of $2.604, it faces resistance between $2.55 and $2.60.
Support is at $2.45. The declining volume suggests a measured correction, not a bearish shift. Traders may find short-term entry points near $2.45, targeting exits between $2.60 and $2.65.
4-Hour Chart: Upward Trend with Resistance at $2.60 and $2.70
Looking at the 4-hour chart, XRP is still on an upward trajectory, stabilizing near $2.50. Resistance levels are at $2.60 and $2.70, while support remains between $2.45 and $2.50.
Traders may want to enter on a breakout above $2.60 or wait for a retracement to $2.45, aiming for profits between $2.60 and $2.70.
Daily Chart: Broader Recovery Pattern
On the daily chart, XRP shows a recovery pattern, rising from a low near $2.20 to a high of $2.72 before slightly retracing.
The key resistance is at $2.72, with support at $2.40. Increased buying volume on bullish candles suggests renewed market interest.
Technical Indicators: Mixed Signals
- RSI: 58.99, signaling neutrality.
- Stochastic Oscillator: 82.71, indicating overbought conditions.
- MACD: Positive signal at 0.07805.
- Momentum Oscillator: Selling pressure at 0.10760.
- CCI: 137.10.
Moving averages across all timeframes remain bullish, indicating favorable buy conditions. However, XRP must break key resistance levels for the upward trend to continue.
Bullish Outlook: XRP’s technical setup looks optimistic, with bullish signals from moving averages and volume patterns. A successful breakout above $2.60, with strong volume, could lead to further gains toward $2.70 and beyond.
Bearish Outlook: Despite the upward momentum, XRP faces resistance at $2.60 and $2.70. Oscillators signal caution due to overbought conditions and selling pressure. If XRP fails to hold support at $2.45, it could drop below $2.40. Traders should watch for signs of a deeper correction if buying momentum weakens.
The $2.50 zone is a key level for XRP. While the market shows potential for further gains, traders should remain cautious of resistance levels and overbought conditions. Monitoring support at $2.45 and resistance at $2.60 will be crucial in determining the next move.
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