$XRP
XRP: Between standstill and breakthrough – billions at stake.
The crypto market is holding its breath as XRP, after a brief surge at the beginning of the month to $2.90, now remains in a phase of consolidation. Currently, the market appears frozen – the Relative Strength Index (RSI) stands at a neutral 48, indicating that neither buyers nor sellers have taken control. However, this calm phase could be a precursor to the next decisive movement. With a market capitalization of around $114 billion, a lot is at stake.
The daily chart shows that the bears currently have the upper hand, at least in the short term. Both the Moving Average Convergence Divergence (MACD) and the momentum indicate a bearish sentiment. The momentum signals a selling pressure at -0.3, while the MACD at 0.040 also shows no bullish support. At the same time, trading volume has decreased – a clear sign that many market participants are waiting and hoping for the next major movement. Current key levels are the support at $2.10 and the resistance fluctuating between $2.40 and $2.50.
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The short-term 4-hour chart shows a similar picture. XRP is tracking lower highs and lows and has recently failed to rise above the $2.35 mark. The moving averages, both the exponential (EMA-10) at $2.25 and the simple (SMA-10) at $2.25, continue to send bearish signals. A crucial support seems to be forming in the range between $2.10 and $2.15. If this holds, it could provide traders with the opportunity to drive the price back towards $2.25 or $2.30 in the short term. However, the lack of momentum in volume remains a risk.
The hourly chart makes the sideways market even more apparent. XRP is stuck in a tight range between $2.12 and resistance at $2.17–$2.20. In the short term, the market seems to be searching for direction.
But despite these short-term weaknesses, the long-term outlook for XRP remains very positive. Long-term moving averages, such as the EMA-200 at $1.075, continue to show a broader upward trend. If XRP breaks through the resistance at $2.20, the next targets could be $2.30 and possibly $2.40. Such a scenario would send a strong signal for the continuation of the recovery trend that XRP began in early December.
The question remains: Will the market gain new momentum? The current calm could be both the 'calm before the storm' and the beginning of a deeper correction. A drop below $2.12 could push XRP towards the critical support at $2.10, while a breakthrough upward with strong volume could pave the way for a new upward movement.
For traders and investors, caution is now advised. Close risk management is essential at this stage, as the next movements could be crucial. XRP is currently in a sort of limbo, but history has shown that the crypto market rarely stays in such a condition for long. The coming days could be decisive for XRP – and perhaps even for the entire crypto market.