The current XRP price remains within a set range, facing several obstacles on its path to growth. Let's examine the current indicators and opportunities for traders.
Background on XRP
As of now, XRP's price is $3.27, down 1.05% in the last 24 hours. After dropping to $2.90 in early August, XRP rebounded to $3.40 but faced resistance. It is important to note that the asset is still holding above the 50 SMA despite the overall downward trend that began in mid-July.
Current Indicators and Their Significance
Analysis of the 4-hour chart shows that XRP is facing strong resistance in the $3.40–$3.43 range. Support is set at $3.14–$3.15. The trading volume has decreased by over 20%, indicating weakened trader interest. Indicators show mixed signals: ADX (36.17) indicates strong trends, while MACD (-0.015) signals a bearish crossover, which may suggest short-term decline.
XRP Price Forecast
Future scenarios for XRP could be as follows: in a positive scenario, a breakout above $3.43 would lead to a rise towards $3.55 and $3.70. If resistance at $3.40 continues, the asset may remain trapped between $3.00 and $3.40. A pessimistic scenario suggests a drop below $3.00, potentially leading to further losses.
XRP is currently in a standoff between buyers and sellers, holding support, but without a breakout above $3.43, momentum will remain limited. For now, the most likely outcome is continued sideways action between $3.00 and $3.40.
