The digital currency ecosystem is currently in consolidation, with XRP bulls setting sights on more ambitious price targets.
XRP Stats and Projections
At present, the price of XRP is $2.19, having decreased by 2.46% in the past 24 hours. Over the past week, the cryptocurrency experienced significant swings, dropping from $2.29 to $2.14, and has now risen to its current level.
XRP Technical Analysis
On the XRP/USDT four-hour chart, the relative strength index (RSI) reads 44, well below the neutral zone, indicating selling pressure is nearly exhausted. The MACD line is also entwined with the Signal Line, a setting that might result in a breakout for the coin. If these indicators soon determine the next trend, they might fuel a return to the $2.50 price mark.
XRP Fundamentals at Play
Last week, XRP endured a significant stress test amid a broad market liquidity squeeze. XRP stands to benefit from the liquidity boost provided by the newly launched RLUSD stablecoin.
The current trajectory of XRP in the market arena offers hope for price appreciation. Both fundamental and technical factors suggest a potential strengthening of bullish sentiments in the near future.
