XRP’s price is currently hovering between $2.15 and $2.20, with a market value of $123 billion. The coin’s daily chart shows it in a holding pattern, steady after a wild dip from its December peak of $2.909. Oscillators like the relative strength index (RSI) at 49.81 and moving average convergence divergence (MACD) at 0.05954 are sending mixed signals, with some indicating bearish vibes.
The four-hour chart shows XRP leaning on support at $2.115 but struggling to break past the resistance zone from $2.22 to $2.25. Exponential moving averages and simple moving averages over 10- and 20-periods are flashing sell signals, suggesting a short-term bearish trend. However, long-term buying opportunities emerge as XRP keeps its head above water on the higher time frames.
The hourly chart shows XRP bouncing back from a low of $2.145 but hitting a wall near $2.208. Quick bursts of volume around $2.1 indicate some buying enthusiasm, but the awesome oscillator and momentum indicator still suggest mixed feelings.
If XRP breaks above $2.25 on strong trading volume, it could rally toward the $2.5 resistance level, potentially paving the way for a retest of its December high at $2.909. However, if it dives under $2.1, it might slide down to $1.9. Given the conflicting signals from oscillators and moving averages, traders should tread carefully and use tight stop-losses to manage their risks.
Source: https://news.bitcoin.com/xrp-market-update-bears-target-2-10-breakdown-in-volatile-trading