XRP is in a pivotal phase with technical indicators suggesting both upward and downward movements. Here's a look at its short-term trajectory based on various timeframe analyses.
1-Hour Chart Analysis
XRP has been consolidating within a descending triangle, hinting at potential breakouts. The price recently tested the lower boundary near $2.50, aligning with the 0.236 Fibonacci retracement level. This suggests that XRP might be undergoing a corrective phase before a potential upward movement. A confirmed breakout above $2.20 would signal a positive shift in market sentiment.
30-Minute Chart Analysis
On the 30-minute chart, XRP’s trend is slightly bearish, with 57.14% of moving average signals pointing down. However, support at $2.00 holds strong, and a break above the $2.20 resistance could signal renewed buying interest.
15-Minute Chart Analysis
In the short term, price action shows consolidation near the middle Bollinger Band, reflecting market indecision. Immediate support is seen at $2.05, while resistance stands at $2.15. If buyers push the price past this resistance, XRP could gain momentum. Conversely, a drop below $2.05 might lead to a decline toward $1.533 before stabilizing.
Based on current price dynamics, a rebound is likely within the next 48-72 hours, provided XRP sustains key support levels and gains bullish momentum. Traders should monitor these critical levels closely to anticipate market shifts.
