Ripple (XRP) price has seen significant movement recently, with a massive surge in November. The token’s price has reached its highest levels since 2018. Now the fourth-largest cryptocurrency by market cap, XRP is 3% away from overtaking Tether for the third spot.
After last month’s strong performance, XRP has entered a mild consolidation phase, falling 2% over the past week. Technical indicators currently suggest a balance between bullish and bearish momentum.
XRP RSI is currently neutral
Ripple price recently hit its highest price level since 2018 but has fallen by 2% over the past week. During the rally in December, the Relative Strength Index (RSI) remained above 70 for several days, signaling overbought conditions driven by strong bullish momentum.
XRP RSI. Source: TradingView
Currently, the XRP RSI is at 46.3, indicating neutral momentum. The RSI, a key technical indicator, measures the speed and magnitude of price changes on a scale of 0 to 100.
Readings above 70 suggest overbought conditions, while levels below 30 point to oversold scenarios. With XRP’s RSI near the midpoint, the asset is neither strongly bullish nor bearish, leaving room for price movements in either direction depending on the coming days.
Ripple CMF is still negative but recovering
XRP’s Chaikin Money Flow (CMF) is currently at -0.01, recovering from -0.13 just two days ago. This improvement suggests a reduction in selling pressure, with money flow into XRP becoming more balanced after a period of outflows.
Although still slightly negative, the change indicates stabilization of market sentiment.
XRP CMF. Fonte: TradingView
CMF is a technical indicator that measures buying and selling pressure by combining price and volume data. Values above 0 suggest strong buying pressure, while negative values indicate selling dominance. Between November 28 and December 5, Ripple’s CMF remained highly positive, peaking at 0.37 on December 1, reflecting significant bullish activity during this period.
With the CMF now close to neutral territory at -0.01, XRP price may see limited short-term movement unless a decisive trend emerges from fresh buying or selling momentum.
XRP Price Prediction: $2.17 Support Will Remain?
XRP’s EMA lines indicate price consolidation, with short-term averages still above long-term ones but the gap narrowing. This signals weakening bullish momentum, which could lead to a downtrend if selling pressure increases.
In this scenario, XRP price could test support at $2.17, with a further drop possibly taking it to $1.89 if initial support fails.
On the other hand, a recovery in the uptrend could see Ripple price challenging the resistance at $2.64. Breaking this level would open the door for a potential move towards $2.90, reinforcing the bullish sentiment.
The narrowing of the EMA lines highlights a crucial moment for XRP, with the next moves depending on whether buyers or sellers gain the upper hand.
The article Ripple (XRP) Price Consolidates After Reaching Highest Price Since 2018 appeared first on BeInCrypto.
