The current2.37, representing a 3.7% drop over the past 24 hours. The cryptocurrency’s total market value is $136 billion, with a daily trading volume of $4.58 billion. In theawed between $2.34 and $2.46, and it still lags 30.1% behind its record high of $3.40, which was reached on January 7, 2018.
XRP’s daily chart shows a period of consolidation following a recent surge that propelled the price from $2.00 to $2.50. Crucial support zones are $2.00, while resistance remains at $2.50 and $2.65. Technical indicators, including the MACD and momentum (10), suggest a continued bullish outlook, reinforced by positive buy timeframes.
‘s 4-hour chart has entered a period of sideways trading following the recent high of $2.50, with decreasing peaks indicating a potential reversal. A decrease in trading volume at key resistance levels suggests that buyers are losing momentum. The cryptocurrency has established support at $2.35 and $2.20, which could provide opportunities for short-term buying if the $2.35 level holds. Although the Stochastic oscillator is indicating a bearish trend, other indicators such as the Awesome Oscillator and MACD are still generating buy signals, suggesting a potential buying opportunity.
On the hourly chart of XRP, there has been a notable rise in price fluctuations, characterized by a sudden drop from $2.50 to $2.35, then attempts to recover. Key resistance levels to watch are at $2.42 and $2.50, while $2.35 is a crucial point for short-term trading decisions. Traders are advised to place stop-loss orders below $2.30 for risk management. The relative strength index (RSI) (14) and other momentum indicators show a combination of neutral and varied sentiments.
XRP’s extended averages, such as the 100-period and 200-period EMAs and SMAs, are signaling strong buying opportunities for the future, showing a distinct upward trend. The Ichimoku baseline suggests a balanced market at the current price level, indicating a stable price around $2.35. Nonetheless, the hull moving average (HMA) indicates selling pressure, advising caution in decision-making.
The broader outlook for XRP remains optimistic, bolstered by robust purchasing cues from both long-term moving averages and momentum indicators. Should the crypto currency successfully defend the $2.35 support level and push past it could potentially pave the way for a surge towards $2.65 in the near future.
Although there are positive trends over a longer period, current short-term signals indicate fatigue and increased selling pressure. If the support at $2.35 is breached, it may lead to a more significant decline towards $2.20 or below, influenced by bearish from indicators such as the stochastic and hull moving average.
