XRP is currently trading at $2.11, showing minor volatility. Let's examine its potential movements.
Technical Analysis
On the weekly chart, XRP is in a consolidation phase around the $2.00 support level. A sustained close above $2.24 could trigger a bullish breakout, while a drop below $2.00 may lead to further correction. The daily chart shows testing resistance near $2.24, hovering between $2.07 and $2.19 on the 4-hour chart. Breaching $2.19 could retest $2.30.
Fundamental Analysis
The recent resolution of Ripple's legal issues with the SEC creates stability for XRP. Increased institutional interest and market sentiment continue to be key factors, along with macroeconomic events like Federal Reserve announcements.
Potential XRP Move
Current indicators and market sentiment suggest further consolidation with a potential breakout in either direction. Breaking above $2.24 could lead to $2.35 – $2.65, while falling below $2.00 may result in a decline to $1.85.
Traders should watch for increased trading volume and key support/resistance levels to confirm the next move.
