Ripple’s XRP has gained 6% in the last seven days. However, the price is down by more than 2% on the daily chart and is struggling to break the $2.50 mark. On the positive side, after five weeks of withdrawals, digital asset investment products recorded massive inflows. XRP and BTC led the positive sentiment, bringing in a combined $730 million. Ripple secured the second spot, while Ethereum faced the largest outflows. In addition, Polymarket bettors reached a new high of 87%, betting that the SEC will approve a spot ETF for XRP in 2025.
Sideways Price Action
XRP has been moving sideways, experiencing short-term bounces, but a larger bearish divergence remains active on the 3-day chart.
This ongoing bearish trend suggests that, despite the potential for brief bullish movements, significant upward momentum is unlikely in the near term. The price is still not expected to see the kind of explosive growth like we witnessed back in November 2024.
According to analyst Josh of Crypto World, XRP continues to bounce within a defined sideways price range. Support is found between $2.24 and $2.30, with additional support in the $1.95 to $2.05 range. On the resistance side, there is a key level around $2.59 based on the latest price high, followed by stronger resistance between $2.65 to $2.80, and another resistance at the $3 mark.
Neutral Short-Term Outlook
In the short term, XRP is showing a relatively neutral stance. The price has been bouncing between support and resistance without any significant follow-through in either direction. The lack of momentum means that the market is currently in a consolidation phase, with little indication of a breakout in either direction for now.
Also Read: XRP Price Struggles After SEC Win – Can It Still Hit $10?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
A lifelong learner with a thirst for knowledge, I am constantly seeking to understand the intricacies of the crypto world. Through my writing, I aim to share my insights and perspectives on the latest developments in the industry. I believe that crypto has the potential to create a more inclusive and equitable financial system, and I am committed to using my writing to promote its positive impact on the world.
