XRP is currently trading at $2.40, has a market cap of $136 billion, a 24-hour trading volume of $3.8 billion, and intraday volatility between $2.36 and $2.46.
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On the daily chart, XRP continues to show a bullish recovery after its extended phase of sideways consolidation. The resistance at $2.50 remains a critical level, as previous attempts to surpass it have failed. However, today’s sharp price rise suggests renewed buying interest. A decisive break above $2.50 on high volume suggests further gains are possible, targeting levels like $2.75. Failure to clear this threshold could see XRP retreat towards $2.20, although today’s momentum suggests that bulls are gaining strength.
The 4-hour chart is showing increasing bullish momentum as the recent rally disrupted the previously observed lower high pattern. Support holds at $2.38, while today’s upside move suggests a possible retest of resistance at $2.50. Notably, volume has been rising during this rally, which is an encouraging sign for buyers. A successful test and hold of $2.44 could open the door to higher prices, while a failure to hold this level would put the $2.38 level back in focus as key support.
For 4 hours on January 6, 2025. XRP price rose by 2.5% as BTC price crossed the $100k mark today.
On the hourly chart, XRP has managed to break out of its minor downtrend, rising decisively above $2.42 with a sharp increase in volume. The recent rally reinforces the $2.38 level as a strong support area while also offering the $2.46 level as the next short-term resistance. Intraday traders should watch for consolidation or a continuation of this momentum, as a break above the $2.46 level could lead to a quick rally towards $2.50.
Oscillators reflect the mixed sentiment we are seeing across timeframes. The Relative Strength Index (RSI) is neutral at 57, while the Moving Average Convergence Divergence (MACD) continues to give a positive signal, consistent with fresh bullish momentum. Meanwhile, momentum oscillators, including the Stochastic and Commodity Channel Index (CCI), remain neutral, suggesting that further confirmation is needed before strong directional moves.
The moving averages are decisively bullish, with the 10-day EMA at $2.33 and the 20-day EMA at $2.28, both signaling buy signals. The alignment of these averages with the current price action adds weight to a bullish case if resistance levels can be overcome.
Bull rule:
If XRP can sustain this momentum and break the key $2.50 resistance level with strong trading volume, it could pave the way for a rally towards $2.75 or higher in the near term. The alignment of moving averages and the increasing bullish trend across multiple timeframes reinforces this outlook.
Bear rule:
If XRP fails to hold the $2.38 support level, it could re-enter a period of consolidation or drop towards $2.20. Traders should remain wary of selling pressure at key resistance levels, especially if volume fails to support today’s rally.
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