After an initial surge, XRP has entered a consolidation phase, with price action stagnating between key support and resistance levels. Technical indicators reflect a market in pause mode, as momentum fades and traders wait for a decisive move.
XRP RSI Turns Neutral, Signaling Market Uncertainty
XRP’s Relative Strength Index (RSI) currently sits at 52.89, a drop from 63.90 just a day ago. This notable decline suggests weakening bullish momentum, with buyers seemingly losing control in the short term.
The RSI, a momentum oscillator measuring price movement on a scale from 0 to 100, indicates that XRP remains in neutral territory. Typically, readings above 70 suggest an overbought condition with potential for a pullback, while readings below 30 indicate oversold conditions. With XRP’s RSI edging closer to neutral, traders remain uncertain about the next significant move.
Notably, XRP has not reached an RSI above 70 since March 19, reflecting a lack of strong buying pressure in recent weeks. The market now awaits fresh catalysts to determine the next trend direction.
Ichimoku Cloud Highlights Indecision in the Market
The Ichimoku Cloud indicator also suggests consolidation, as XRP hovers just above the cloud but lacks strong momentum. The Tenkan-sen and Kijun-sen lines remain flat and close together, signaling a balanced market with neither buyers nor sellers in control.
The cloud ahead appears thin and slightly bullish, indicating moderate support but vulnerability to selling pressure. Meanwhile, the Chikou Span (lagging line) is closely interacting with past price action, further confirming weakening momentum.
Can XRP Break Above $2.50?
XRP surged following the SEC’s decision to drop its case, but that momentum has since faded. The price is currently stuck between a resistance level at $2.47 and support at $2.35.
If XRP fails to hold support, a decline toward $2.22 is possible, with further downside toward $1.90 if selling pressure intensifies. Conversely, a break above $2.47 could trigger a rally toward $2.59 and $2.74, with a potential upside target of $2.99 if bullish momentum returns.
For now, XRP remains in consolidation, with traders looking for a decisive breakout in either direction.
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.
Also Read: XRP Price Holds Near $2.4 as Experts Predict Massive Surge to $15
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