XRP is in a narrow trading range, raising concerns about the sustainability of current price compression. A possible breakout is expected soon.
Current state of the XRP market
For the past few weeks, XRP has shown a lack of clear direction, being stuck in a narrow range. The current volatility and minimal price changes create conditions for an upcoming sharp movement.
Technical levels and trading volume
The overall trading volume of XRP has decreased significantly, marking a clear feature of the current situation. High-volatility breakouts are expected to be preceded by increasing trade volumes. Key support and resistance levels, such as the 200 EMA and the 50/100 EMAs, create pressure on the price.
Probable price movement scenarios
XRP is at the brink of a possible implosion, with the direction of movement depending on which side takes the initiative first. If buying increases, the asset could break above the $2.22 and $2.28 levels, while increasing sell pressure might lead to a drop below the $2.00 level.
XRP stands at a critical point where low volume and price squeeze indicate an impending breakout. Traders should stay vigilant, as the situation can change at any moment.
