$XRP , one of the most consolidated cryptocurrencies in the market, is showing a return level in its price, currently trading at US$ 2.16. With a negative variation of -1.18% in the last 24 hours, the asset is testing critical levels that could determine its movement in the short term. This article will analyze the main factors that influenced the direction of XRP for the next 24 hours, helping traders to position themselves strategically.

Summary of the Current Scenario

  • Current Price: $2.16

  • 24h change: -$0.0257 (-1.18%)

  • 24h High/Low: $2.2163 / $2.1149

  • Trading Volume:

    • Em XRP: 168.062.172 tokens

    • My USDT: $363,439,020.11

  • Market Dominance: 3.77%

  • Market Volume/Capitalization: 3.21%

Despite its decline, XRP continues to attract large trading volumes, with over $363 million transacted in 24 hours, reflecting its appeal in the market.

Technical Indicators and Market Orders

  1. Relative Strength Index (RSI):

    • RSI(6): 36.2 (close to the oversold zone).

    • RSI(12): 47.54 (neutral).

    • RSI(24): 56.36 (balance with bullish level).

    The RSI(6) indicates that the XRP price is close to a possible bearish reversal zone, making the asset attractive for buyers if there is adequate technical support.

  2. Purchase and Sale Orders:

    • Buy: 159.81M XRP

    • Sale: 175.64M XRP

    • Balance: -15.83M XRP

    The imbalance between purchases and sales reflects moderate selling pressure, which may hinder an immediate price recovery.

  3. Critical Support and Resistance Levels:

    • Support: $2.11 (24-hour low).

    • Resistance: $2.22 (24-hour high).

    These levels are key to determining the price direction in the coming hours.

Possible Scenarios

1. Bullish Scenario:
If XRP can hold the support at $2.11 and overcome the immediate resistance at $2.22, it could start a recovery move. The RSI(24) above 50 suggests that there are enough buyers to sustain a moderate rally. In this case, the price could reach levels near $2.25 to $2.28.

2. Bearish Scenario:
Persistent selling pressure, as indicated by the imbalance in orders, could lead XRP to lose support at $2.11, paving the way for further decline. In such a scenario, the next significant support would be around $2.08 to $2.05.

Strategies for Traders

  1. Short Term:

    • Bullish: Enter positions above $2.22, targeting $2.25 to $2.28.

    • Bearish: If support at $2.11 is lost, look for short entries targeting $2.08 to $2.05.

  2. Risk Management:

    • Recommended stop loss for long positions: $2.10.

    • Stop loss for short positions: $2.23.

Conclusion

Data analysis suggests that XRP/USDT presents a neutral scenario with a bearish bias, given the imbalance between buy and sell orders and the RSI(6) close to the oversold zone. However, stability in the medium and long RSI levels indicates that the market may enter investments before a more defined movement.

Investors should closely monitor the $2.11 (support) and $2.22 (resistance) levels,