The current XRP price analysis reveals that the cryptocurrency is undergoing consolidation within an established range, stirring interest among traders. We examine technical indicators to determine possible movements in the short term.
Daily Chart Overview
On the daily chart, XRP has established solid support at $2.00 and continues to rebound from this level. The Relative Strength Index (RSI) is nearing the oversold zone, indicating weakening selling pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) suggests a slowdown in bearish momentum, hinting at a potential shift in trend.
4-Hour Chart Analysis
On the 4-hour chart, XRP continues to oscillate within the $2.00 to $2.20 range. The price recently recovered from the lower boundary, challenging the $2.19 resistance level. The RSI remains close to oversold conditions, indicating potential room for upward movement. However, with XRP still below the 200-period moving average, a sustained bullish trend has yet to emerge.
1-Hour and 12-Hour Forecast
On the 1-hour timeframe, XRP is showing initial signs of recovery after testing support at $2.07. RSI has climbed out of oversold conditions, while MACD is hinting at a bullish crossover. Immediate resistance is found at $2.19. Over the next 12 hours, XRP is likely to trade within a range of $2.07 to $2.20. A breakout above $2.19 with increasing volume could push the price to $2.25, though consolidation may persist if this fails.
XRP's short-term outlook points to continued range-bound movement, with a potential breakout under favorable conditions. Monitoring key support and resistance levels is crucial to maximizing market opportunities.
