Despite efforts for crypto market recovery, XRP continues to show volatility. Currently priced at $2.49, it fell over 2%, while its trading volume rose by 48%.
Current Market Situation for XRP
XRP is currently trading under bearish pressure. After dropping to $2.45, it rebounded slightly to $2.49. The price may further decline if bearish sentiments prevail.
XRP Support and Resistance Levels
Assuming the downtrend continues, the $2.51 support threshold is critical. Falling below this could lead to $2.30. A reversal could target the resistance at $2.62, potentially leading to a rally.
Technical Indicators for XRP
The MACD indicator suggests a continuation of the downward trend. The Chaikin Money Flow (CMF) at -0.34 indicates strong selling pressure. RSI stands at 35.86, nearing oversold territory.
The current XRP market activity indicates significant volatility with potential downside risks. Analysts emphasize monitoring support and resistance levels to assess possible scenarios.
