XRP’s price has been trading at $2.35 with a total market capitalization of $137 billion and a 24-hour trading volume of $1.75 billion. The intraday price range from $2.30 to $2.37 indicates a narrow consolidation pattern, suggesting indecisiveness across multiple timeframes.
Looking at the one-hour chart, XRP is recovering from a sharp drop from $2.457 to $2.282. This decline was followed by a series of higher lows, indicating an accumulation phase. Price action has compressed into a narrow consolidation zone between $2.34 and $2.36, supported by low volume.
For traders seeking short-term entries, watching for a breakout above $2.36 is crucial, ideally confirmed by a strong green candlestick and increased volume. A potential entry strategy would include a stop-loss just below $2.30 and initial targets set at $2.42 and $2.47–2.48.
The four-hour chart shows XRP stabilizing after a recent low of $2.282, established on May 23. This level displayed a buying tail and quick rebound, suggesting it could serve as a short-term bottom. The asset is consolidating between $2.33 and $2.36, while the overhead resistance at $2.48 remains formidable.
In the daily chart, XRP reveals a broader narrative of a strong rally that culminated in a local top at $2.656, followed by a pullback phase. A clear volume spike near the top suggests distribution, with smart money exiting positions. Price behavior currently features lower highs and candle patterns marked by indecision, such as smaller bodies with extended wicks.
Oscillators across the board reflect a neutral to slightly bearish sentiment. The relative strength index (RSI) stands at 51.02, indicating a balance between buying and selling pressure. However, the moving average convergence divergence (MACD) shows a level of 0.03688, indicating a bearish signal.
The moving averages (MAs) offer a layered outlook. Short-term indicators signal negativity, but longer-term indicators present a distinctly bullish bias. The 50-period EMA and SMA suggest bullish activity, indicating that support may be forming around those levels.
If XRP maintains support above the $2.30–$2.32 range and breaks above $2.37 with accompanying volume, the bullish structure remains intact. Layered support from mid- to long-term moving averages supports a potential continuation toward $2.47 and beyond. However, failure to hold the $2.30 support may indicate that the recent consolidation is a pause before further downside.
In conclusion, XRP’s price analysis suggests a narrow window for traders to enter long positions. A bullish breakout above $2.37 with volume would be necessary to confirm the structure and propel XRP toward its next resistance level.
Source: https://news.bitcoin.com/xrp-price-watch-consolidation-or-collapse-market-holds-breath-near-2-35