The current price of XRP is $2.14, down 1.1% in the last 24 hours. With a market capitalization of $123 billion, it ranks fourth after Tether (USDT), shows a global trading volume of $5 billion, and fluctuates between $2.13 and $2.23 today.
XRP
The daily chart shows that XRP is taking a pause after a rapid rise to $2.90 earlier this month. The relative strength index (RSI) remains calm at 48.99, indicating that neither buyers nor sellers dominate. Both indicators, Momentum and moving average convergence divergence (MACD), show bearish trends; Momentum gives a sell signal at -0.42651, while MACD is at 0.08410. Considering the decline in trading volume, the market is clearly taking a breather, with support around $2.10 and resistance between $2.40 and $2.50.
On the 4-hour chart, XRP has short-term setbacks as it shows lower highs and lows after failing to break the level of $2.35. The exponential moving average (EMA-10) and simple moving average (SMA-10) both show bearish signals at $2.25029 and $2.24311, respectively. Watch for support from $2.12 to $2.15 and resistance in the range of $2.25 to $2.30. Exchange speculators may notice a chance around $2.15, aiming to reach $2.25, but act cautiously—tension still remains in the market.
On the 1-hour chart, XRP is stuck in a rut, with resistance from $2.18 to $2.20 and support at $2.12. Low volume hints at cautious sentiment. The oscillator is just at 0.05520, while the EMA (20) at $2.23286 and SMA (20) at $2.33407 lean towards bears. A rise above $2.20 could target $2.30, but this is only possible with increased trading volume.
Oscillators mainly show neutral or bearish signals, with the commodity channel index (CCI) at -107.40505, and the stochastic index at 30.90697. However, the simple moving average (SMA-50) and exponential moving average (EMA-50) at $1.79919 and $1.87019, respectively, still support bulls. Even considering short-term difficulties, the EMA (200) at $1.07240 indicates long-term optimism.
Overall, the price movement of XRP indicates a market that is acting cautiously, and traders are awaiting the next big move. Here, it is important to manage risks strictly as we move through this period of calm before the storm, or perhaps the storm before the calm.
Bull verdict:
Long-term moving averages of XRP, such as the exponential moving average (EMA) (200) at $1.07240, remain bullish, indicating a broader upward trend. If the price successfully breaks through the resistance at $2.20 with strong volume, it could target $2.30 and potentially retest $2.40, signaling the continuation of the recovery trend that began earlier this month.
Bear verdict:
Short-term indicators, including the moving average convergence divergence (MACD) at 0.08410 and momentum (10) at -0.42651, suggest bearish pressure, while the reduced trading volume and repeated attempts to break the $2.20 level highlight the dominance of sellers. If XRP breaks below $2.12, it may test critical support at $2.10, potentially opening opportunities for further declines. #xrp #BinanceSquareTalks #XRPGoal #XRPUSDT🚨
