XRP is trading at $2.45 on January 4, 2025, boasting a market capitalization of $140.85 billion. Its 24-hour trading volume reaches $4.47 billion, and the daily price fluctuation ranges from $2.43 to $2.49.
The one-hour chart of XRP illustrates a consolidation phase within the range of $2.45 to $2.50, indicating a potential breakout scenario. Low trading activity in this area implies that market participants are awaiting directional signals. With resistance set at $2.50 and support at $2.40, a decisive move above $2.50, supported by significant volume, could present a buying opportunity. A calculated profit-taking strategy may focus on the $2.60 mark.
The four-hour chart of XRP highlights the ongoing bullish trend, only interrupted by short consolidations below $2.50. Bullish candles and a surge in volume synchronize to emphasize steady momentum. Key levels include short-term resistance at $2.50 and support at $2.20. A breakout above the consolidation point near $2.30 could mark an attractive entry, with extended targets towards $2.50 and above.
On the daily chart, XRP maintains an upward trajectory, forming gradually higher lows and highs. The broader range is defined by resistance at $2.90 and support at $2.00. Significant buying activity accompanies upward price movements, while a pullback to $2.20–$2.30 could provide potential entry points. Resistance zones near $2.75–$2.90 may offer profit-taking opportunities.
Momentum indicators provide mixed insights. The relative strength index (RSI) at 61.66 indicates neutrality, while the stochastic oscillator at 91.92 and the commodity channel index (CCI) at 113.03 also suggest balanced conditions. Meanwhile, momentum at 0.162 and the moving average convergence divergence (MACD) at 0.072 lean towards a favorable buying outlook.
The moving average (MA) reinforces bullish sentiment on both short-term and long-term indicators, with both the exponential moving average (EMA) and simple moving average (SMA) aligning on buy signals across multiple time frames. A cautionary note comes from the hull moving average (HMA) at $2.49876, urging close attention to price momentum in this range.
Bull's Assessment
Technical indicators and price action of XRP show a bullish outlook, with strong support levels, consistent buy signals from moving averages, and momentum supporting the upward trend. A breakout above $2.50 could pave the way for testing the resistance level near $2.75 or even $2.90, offering significant bullish potential for traders.
Bear's Assessment
Despite bullish signals, XRP's consolidation near the key resistance level and low volume in the critical range raises caution. Failing to break through the $2.50 level, combined with potential sell signals like HMA, could trigger a reversal, testing the support level near $2.40 or lower.
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