XRP has decreased by 2.6% in the past 24 hours, trading around $3.45 following a strong rally over the last week. We will discuss the current status and outlook of this cryptocurrency.
Current XRP Metrics
XRP shows a decline to $3.45 after a 22% increase over the week. This price trend is typical of a short-term correction following a strong upward movement.
Technical Analysis of XRP
According to technical analysis, key resistance stands at $3.61, which has recently been reached twice, forming a "double top" pattern. Current support is being tested at $3.48 and $3.42. Additionally, the Relative Strength Index (RSI) is reported at 62.35, indicating a potential for consolidation.
XRP Price Prediction
Traders employ different strategies; however, optimal entry conditions may arise near the $3.00 mark, which serves as historical support. A break above $3.61 could lead to upward movement towards $4.00 or higher. If the price falls below $3.42, a retest of $3.00 could occur.
The recent pullback in XRP prices should be seen as a natural correction. Entering a position without confirmation could be risky. It is advisable to wait for confirmation at $3.42 or a dip to $3.00 before making a decision.
