XRP is holding steady at $3.06 after a minor dip. The market remains calm as traders observe possible market movements.
XRP Chart Analysis
On the 4-hour chart, XRP is moving within a range of $2.70 to $3.30 for most of September.
Strong support is noted around $2.70-$2.80 where buyers entered on September 7 and 12. The main resistance level remains at $3.30, which has capped every rally this month.
Currently, XRP price is bouncing from a short-term low near $2.95 and is back above $3.06. The structure resembles a sideways pause within a broader upward trend.
Market and Indicators
The Relative Strength Index (RSI) on the 4-hour timeframe is recovering from oversold levels. It currently stands around 39 after dipping to about 25 earlier today. This indicates that selling pressure is easing, and buyers are slowly regaining momentum.
Open interest is sitting near $336 million, roughly unchanged over the last 24 hours. This shows that derivatives traders are staying in their positions and aren’t rushing to close out longs.
The Net Long versus Net Short readings are balanced, with longs at about $821 million and shorts around $790 million. This slight edge for longs points to cautious but positive market sentiment.
Short-Term Outlook for September 15
If buyers keep pushing, XRP could test levels of $3.20 to $3.30 later today. A clean 4-hour close above $3.30 would be an important sign that the next leg higher toward $3.60 is beginning.
If the market drops, however, initial support is just below $2.95 with stronger support between $2.70 and $2.80. As long as XRP price remains above that range, any decline will likely be seen as healthy consolidation rather than the start of an extended decline.
Overall, the situation on September 15 favors the bulls. The question remains whether XRP can build enough momentum to finally break above $3.30 and continue the upward trend.
