XRP Technical Analysis: Price Maintains Balance in Consolidation, Eyeing Critical Breakouts

As of Dec. 12, 2024, the XRP/USD market reflects a steady consolidation phase across several timeframes, with bulls and bears locked in a tug-of-war at pivotal levels.

XRP

On Thursday, XRP’s daily chart paints a picture of an earlier uptrend tempered by recent consolidation. Prices climbed from $0.54 to a high near $2.91, encountering a ceiling at this level. A retreat to the $2.20–$2.40 support zone marks a period of stabilization. Should prices breach the $2.91 mark with significant trading volume, the bullish trajectory could resume. Conversely, a fall below $2.20 may hint at deeper corrections. While trading activity spiked during the rally, volumes have tapered off in the consolidation phase, mirroring traders’ indecision.

Key technical oscillators, such as the relative strength index (RSI), stochastic oscillator, and commodity channel index (CCI), hover in neutral territory, reflecting the ongoing consolidation. Meanwhile, momentum (10) and moving average convergence divergence (MACD) are flashing sell signals, with values of -0.30941 and 0.35614, respectively, suggesting a cautious approach to trading in this range.

Current heat map shows short liquidation above 2.5 and market certainty move upward as of my prediction