#XRPETFIncoming? XRP at Its Calmest: Here's What's Happening, Solana (SOL) Gains 7% in Hours in Massive Surge, Ethereum (ETH) to Get Tested at $3,330

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XRP at Its Calmest: Here's What's Happening, Solana (SOL) Gains 7% in Hours in Massive Surge, Ethereum (ETH) to Get Tested at $3,330

U.Today

Published 31-01-2025, 05:31 am

XRP at Its Calmest: Here's What's Happening, Solana (SOL) Gains 7% in Hours in Massive Surge, Ethereum (ETH) to Get Tested at $3,330

© Reuters XRP at Its Calmest: Here\'s What\'s Happening, Solana (SOL) Gains 7% in Hours in Massive Surge, Ethereum (ETH) to Get Tested at $3,330

ETH/USD

1.28%

XRP/USD

-1.05%

SOL/USD

-2.16%

U.Today - After a recent explosive rally, XRP has calmed down and is currently trading at $3.10. Although momentum appears to be slowing down, the asset has managed to maintain its position above important support levels. It appears that traders are holding off on acting until they receive a clear signal during this consolidation phase. Right now, XRP is trading close to $3.10, with the 50 EMA providing instant support at $2.88.

The next significant support at $2.59 could serve as a buffer against additional downward movement if XRP is unable to hold this level. Resistance on the upside is still around $3.50, and a possible breakout would pave the way for $4.00. Indicating a decrease in market activity, trading volume has also decreased in comparison to previous spikes. This implies more neutral sentiment since neither bulls nor bears are currently controlling the market. But this stable phase is frequently followed by heightened volatility, so the next action is vital.

The strength of the eventual breakout may increase with the length of time that XRP stays in this consolidation range. XRP may try to retest the $3.50 resistance if buying pressure builds. The next likely scenario, though, might be a pullback to $2.59 if support at $2.88 fails.