XRP Price Forecast: Pivotal $0.6830 Level to Determine Bullish or Bearish Trend

Ripple’s XRP, a staple among the top digital currencies, is trading at $0.670496. Despite the crypto market’s notorious volatility, XRP has maintained a solid standing, ranked #6 by market capitalization, which is currently at $36.7 billion.

Over the past 24 hours, the asset witnessed a 1.47% decrease in value amid a substantial $2.9 billion trading volume. The coin is at a pivotal moment, perched near its pivot point of $0.6831. Climbing above this level may invite bullish sentiment, while any move below could strengthen bearish trends.

Resistance for XRP is mapped out at $0.7063, with further barriers at $0.7444 and $0.7733 that could restrict upward price actions. Support levels are slightly lower, with immediate cushioning at $0.6641 and additional support at $0.6453 and $0.6172, which are crucial for maintaining current price levels.

The Relative Strength Index (RSI) for XRP is neutral at 48, suggesting that buying and selling pressures are balanced out.

Furthermore, the 50-day Exponential Moving Average (EMA) hovers at $0.6566, indicating a potential support zone that could encourage buying activities, particularly as XRP has touched the 50% Fibonacci retracement level around $0.6640.

The current technical outlook for XRP/USD is mixed, as the asset lingers close to its pivot point. A decisive move above this mark could indicate gathering momentum for buyers, setting the stage for an optimistic price forecast.

However, slipping below it could signal a continued pullback, as market participants look for stronger indicators of either a bearish or bullish trend to consolidate around.