XRP Price Prediction: Can Bulls Defend $2.20 or Risk a Drop Toward $1.90?
XRP is trading at $2.27, up 1.8% over the past 24 hours. This comes on the back of a daily trading volume of a pretty hefty $5.8 billion...
Quick overview
- XRP is currently trading at $2.27, showing a 1.8% increase in the last 24 hours with a trading volume of $5.8 billion.
- The token faces resistance at $2.36 and support at $2.20, with bearish signals indicating potential downside targets of $2.09 and $1.90.
- The Relative Strength Index (RSI) is at 42, suggesting fading momentum but not yet oversold.
- Traders are awaiting a decisive breakout, as XRP remains range-bound and poised for significant movement.
XRP is trading at $2.27, up 1.8% over the past 24 hours. This comes on the back of a daily trading volume of a pretty hefty $5.8 billion. Despite the uptick, though, the token is starting to show signs of fatigue after repeatedly failing to break past that stubborn descending trendline resistance just below $2.36.
The 50-day EMA is acting as a ceiling on short-term rallies, while the 200-day EMA at $2.73 represents the holy grail for a sustainable bullish reversal. Now traders are keeping a close eye on whether XRP can hold above its key support at $2.20—that spot has historically drawn in some pretty aggressive buying during volatile phases.
Bearish Signals on Full Display
Recent candlestick formations are certainly causing some concern here. You’ve got a spinning top followed by a pretty nasty bearish engulfing pattern—that’s a red flag for indecision and renewed selling pressure. Meanwhile, the Relative Strength Index (RSI) is currently at 42, suggesting fading momentum. It’s not yet oversold, though, so there’s still room for another dip before a potential recovery might come into play.
As you’d expect, the lower highs and lower lows on the chart reinforce the bearish short-term channel; downside targets are at $2.09 and then $1.90. If XRP breaks below these levels, expect losses to extend, dragging it down to the lower end of its descending channel.
Key Highlights:
- Immediate resistance: don’t expect it to break through that trendline at $2.36 & 50-EMA
- Major support: $2.20 – then we’re looking at $2.09
- RSI: at 42 – that’s not a lot of momentum to hang your hat on
- Market cap: we’re talking $137.3 billion here, which puts XRP all the way at #4 globally
XRP Trade Setup: Play it Cautiously
For any traders out there, XRP’s a two-way street. The bearish setup is still on the table if price action can’t reclaim the $2.36 level, we’re talking a target of $2.10, with a stop-loss just above $2.40 to keep risk in check.
Alternatively, if you get a bullish engulfing candle above $2.40 and some corresponding RSI divergence, that is enough to spark a reversal back up to $2.53 or even $2.73.
XRP’s a bit stuck in limbo at the moment. It’s range-bound but poised for something big, as traders wait for a decisive breakout to finally give them a clear read on the trend. Till then, it’s just a waiting game between fading bears and patient dip-buyers all ready to jump in once momentum starts to shift.
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