Ripple (XRP) is up 181.38% over the past 30 days, demonstrating strong market momentum. After reaching $1.63, XRP is now consolidating, with its RSI at a neutral 53.2, signaling balanced market conditions.
If the bullish momentum picks up, XRP could retest $1.63 and rise towards $1.70, its highest level since 2018. However, a downtrend could push the price towards $1.27 or up to $1.05.
Currently in a neutral zone
XRP’s RSI currently stands at 53.2, reflecting neutral momentum following the recent price surge. The RSI, or Relative Strength Index, measures the speed and magnitude of price changes on a scale of 0 to 100.
Values above 70 indicate overbought conditions, often signaling a potential correction, while values below 30 suggest oversold levels, indicating potential recovery. XRP’s RSI was above 70 between November 21 and 23, during its rally to $1.63, highlighting the overbought state at that peak.
XRP RSI. Source: TradingView
At 53.2, XRP’s RSI indicates a cooling of the bullish momentum but does not yet signal a reversal. This neutral level suggests that the coin is consolidating after its recent gains, leaving room for further upward movement if buying pressure returns.
However, if the RSI falls, it could indicate weakening sentiment, potentially leading to a correction.
Ripple's CMF has gone negative
XRP’s CMF is currently at -0.05, down from 0.10 when its price hit $1.63 a week ago, reflecting a reduction in capital inflows. The CMF, or Chaikin Money Flow, measures the volume-weighted flow of capital into or out of an asset, with positive values indicating buying pressure and negative values suggesting selling dominance.
The drop into negative territory signals that selling pressure is starting to outweigh buying activity, although not yet significantly.
XRP CMF. Fonte: TradingView
At -0.05, XRP’s CMF indicates a slight bearish sentiment but remains above the -0.15 level seen on November 21. This suggests that while selling pressure is increasing, it is not as intense as during previous corrections.
If the CMF continues to fall, it could signal further selling and a potential decline in the price of XRP.
XRP Price Prediction: Back to 2018?
XRP’s EMA lines remain bullish, with short-term lines positioned above the long-term ones, signaling a continued uptrend. However, the narrowing gap between the lines suggests a weakening bullish momentum, indicating a possible trend reversal.
If a bearish trend emerges, Ripple price could test the strong support at $1.27. If this level fails to hold, the price could drop further to $1.05, reflecting a more significant correction.
XRP Price Analysis. Source: TradingView
On the other hand, if buying pressure strengthens and a new uptrend forms, XRP price could retest its recent high of $1.63. Breaking this level could push the price to $1.70, marking its highest value since 2018.
The article Analysis shows Ripple (XRP) price at its highest level in 6 years appeared first on BeInCrypto Brazil.
