💥 According to U.Today: $XRP s struggle

XRP's path on the market was full of questionable moves and problematic situations. Unfortunately, things are not changing that much as the cryptocurrency stays below numerous resistances, the price shows sideways movement since the beginning of 2024 and the general outlook for the asset looks gloomy. Let's break down why that is.

The story on the XRP chart has been one of consistent struggle. Every attempt at rallying thus far has failed to break above the several important moving averages, and prices have been forced not to bulk up. The existence of the 50-day EMA, the 100-day EMA and the 200-day EMA, all acting as big hurdles in the way of an important movement toward the upside, has made it difficult.

This confluence of resistance levels makes it difficult for XRP to take off with momentum. Another element is that volume trends, which portray a worrying picture, continue to decrease, symbolizing an absence of sufficiently strong buying interest. The higher the volume, the harder it becomes to break out of these tough resistance levels.

Currently, the RSI is hovering in the middle of the 50s and is mostly indicative of the indecision on the market and the lack of a well-defined trend. XRP has to fight to eventually break out and, thereafter, move on to a positive trajectory. This includes a strong and clear move above the 200-day EMA, riding a big volume surge that validates the move.