📉 XRP is currently experiencing a delicate balance between bullish momentum and short-term corrections, with its price stabilizing at $2.56. The 1-hour chart shows an intraday price swing between $2.46 and $2.621, driven by significant buying and selling activity. However, profit-taking led to a pullback, stabilizing the price at $2.55, which now serves as a tentative support zone. The relative strength index (RSI) indicates overbought conditions at 73.96, potentially signaling a cooling-off period. On the other hand, the moving average convergence divergence (MACD) level of 0.43549 supports a bullish outlook.
📊 Looking at the 4-hour chart, XRP has been recovering steadily from a local low of $2.178, following a retracement from its recent high of $2.91. While the recovery appears consistent, the slowing upward momentum is evident in smaller movements forming near the $2.55–$2.60 range. A tapering volume trend further reflects market indecision. Traders should monitor XRP’s price action closely, as a break above $2.60 with increasing volume could indicate a continuation of the uptrend.
📈 The daily chart offers a broader perspective, highlighting a strong bullish rally that started near $0.49 in early November, peaking at $2.91. This rally has since entered a natural correction phase, with XRP finding stability above the $2.50 range. However, diminishing volume following the peak indicates waning enthusiasm among both buyers and sellers. A daily close above $2.60 with rising volume could renew bullish momentum, targeting the $2.75–$2.91 range or possibly higher.
🔍 Oscillator and moving average data further support the bullish narrative, albeit with caution. Following last week’s price drop, traders are on edge. While the Stochastic oscillator and commodity channel index remain neutral, the MACD’s positive value aligns with upward momentum. Additionally, all of XRP’s key moving averages signal strong and positive conditions, showcasing long-term optimism.
💪 In conclusion, XRP’s technical indicators strongly favor a bullish continuation, provided key support levels hold firm. A breakout above $2.60, accompanied by rising volume, could propel the price toward its recent high of $2.91. However, despite the bullish momentum, overbought signals from the RSI and waning volume after the recent peak suggest high caution. A decisive break below $2.50 could unravel the recent uptrend, potentially driving the price toward the $2.20 range.