- XRP trades at $2.28 with a 2.92% gain as volume spikes 97.91%. Amidst this, the price tests key resistance at $2.33.
- Bullish MACD crossover with rising volume signals strong momentum and possible upside continuation.
- A weekly close above $2.33 may confirm a breakout, while failure to hold could keep XRP in sideways movement.
XRP, at press time, is trading at $2.28, with a gain of 2.92% in the last 24 hours. The daily trading volume rose by 97.91% to $2.4 billion. Over the past week, the token increased by 4.18%. The price is currently straining a major resistance area.
Source: CoinMarketCap
Analyst Dark Defender highlighted that any bullish continuation would be confirmed by a breach of $2.28 to $2.33. Further consolidation could be caused by a close below $2.28. This candle is viewed as a short-term turning point by the market participants. Price action in this area may determine the next direction.
The major support zones of XRP are $2.19, $2.07, and $1.16. These would allow for any downward move. The resistances appear at $2.33 and $2.46. A break and hold above these might set off greater gains. There is volatility at these levels, and traders are gearing up.
Source: X
Also Read: XRP Coiling for Bold Move as $2.50 Breakout Nears
MACD Signals Bullish Momentum
The Relative Strength Index is 57.20, which is higher than its 14-day moving average of 51.12. This reflects a growing buying pressure. The RSI higher than 50 gives an advantage to bulls without reaching overbought. The reading indicates that XRP can be moved further towards the upside.
Source: TradingView
There is a bullish cross with the MACD. The MACD line indicates 0.0152, and it has crossed above the signal line, which shows 0.0114. The histogram is growing positively. This indicates the creation of momentum. Further upside could be provided by the ongoing volume strength.
According to CoinGlass, there is growing interest in the market. Volume of trades increased by 120% to $4.53 billion. The open interest increased by 6.55% to $4.70 billion. The OI-weighted rate is 0.0100%, which indicates the prevalence of long positions. These data indicate increasing market bullishness in the derivatives market.
Source: CoinGlass
XRP Nears Key Breakout
FOUR Crypto Spaces revealed a breakout signal. According to analysts, it is possible that XRP is coming out of a stage of consolidation. The token currently faces an essential daily resistance level. A powerful rally can follow if it breaks. There is an impression that sentiment is moving towards bulls.
Source: X
Market indicators are strengthening with momentum. A breakout above the resistance may be confirmed with a weekly close higher than the resistance. The short-term direction of XRP is probably to be determined within the next several days.
Also Read: Ripple (XRP) Holds $2.20 Breakout with Explosive $4.80 Target
