While the cryptocurrency market has been showing active movements recently, the price of XRP has not yet shown significant fluctuations like other coins. However, XRP is known for unexpected sharp movements and is currently maintaining an important support line on the daily chart. The current XRP trading price is $2.45.
Recently, XRP showed a strong signal. Last week, it experienced a slight decline and sideways movement due to a bearish divergence. However, the RSI indicator is currently rising, sending a signal that this weakness may end. This is especially true as Bitcoin and other altcoins are rebounding.
Currently, XRP is moving in a price range between $1.57 (April low point) and $3.40 (recent high point). It has not yet shown a clear breakthrough in either direction. Analysts believe this range may develop into a triangle pattern or another form over time.
Short-term XRP Analysis
In the short term, XRP is trading with a support line between $2.15 and $2.31, and a resistance line between $2.48 and $2.61. The current price is consolidating within this range, and traders are watching for a potential breakthrough above $2.62. Such a breakthrough could be the first signal of a larger upward movement.
As long as XRP maintains above its recent Monday low point, the short-term trend remains positive. If Bitcoin and the overall market continue their momentum, a quick rise to the $3.30-$3.40 range could be possible.
Points of Attention
If XRP falls below $2.31 and $2.28, this could mean the recent short-term uptrend has ended, and it may decline to the $1.79-$2.60 range before finding a new support line.
Overall, while XRP is currently moving in a narrow range, from a long-term perspective, it still shows strength, and no major signals of a long-term peak have appeared yet.
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