- XRP rebounded from $2.10 and is now trading aabove the $2.40 level.
- A breakout above $2.30 was supported by rising volume and improved sentiment.
- RSI near 72 suggests overbought conditions, hinting at a possible short-term pullback.
- MACD remains bullish, pointing to strong momentum despite signs of caution.
XRP has delivered a solid rebound over the past week, reversing its earlier decline and gaining momentum as it surpasses the $2.40 resistance level. After starting the period with a gradual drop from around $2.25 to lows near $2.10, the token shifted direction and began climbing steadily.
The early part of the week showed consistent selling pressure, with multiple red candlesticks reflecting bearish sentiment. However, the price stabilized near $2.10, moving sideways as the market searched for direction. This consolidation set the foundation for the rally that followed.
A clear breakout took place as XRP pushed past $2.20 and climbed beyond $2.30. The rally was accompanied by an increase in trading volume, signaling stronger buying interest.
XRP’s recent price action reflects improving sentiment, with bullish momentum building after a period of weakness. Market participants are watching closely to see whether the token can maintain its strength and secure a break above the current resistance.
XRP Momentum Strong, Price Eyes Breakout
The 4-hour chart shows XRP pushing higher, testing the upper band of the Bollinger Bands, currently at $2.4695. This move suggests the price is near an area where momentum could slow unless buyers extend the rally.
The Relative Strength Index (RSI) is hovering at 71.96, entering overbought territory. This level indicates that the asset may be approaching a short-term top, increasing the likelihood of a pullback or consolidation phase if buying pressure eases.
Momentum remains strong, as reflected in the Moving Average Convergence Divergence (MACD) indicator. The MACD line has crossed well above the signal line, showing a widening gap, while the histogram continues to print positive bars. This alignment supports the bullish sentiment, pointing to ongoing buying momentum despite the overbought RSI reading.
Support levels are visible near the middle Bollinger Band at $2.2666 and lower band at $2.0637, with the 20-period WMA at $2.2666 also providing a potential floor. A rejection near the upper band could lead to a test of these levels if sellers step in.
In the near term, XRP’s price action shows strong momentum but signals caution as technical indicators approach stretched levels. Traders will be watching to see if the token can secure a breakout above the upper Bollinger Band or if a short-term correction unfolds before the next leg higher.
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