XRP has risen by 4% in the last 24 hours, gaining momentum as investor optimism grows around the increasing likelihood of a spot ETF approval for XRP in the U.S. This shift in sentiment is accompanied by improved technical signals, particularly the recovery of the Relative Strength Index (RSI) to neutral territory and maintaining the price slightly above the Ichimoku cloud.
Although XRP remains within range, its bullish exponential moving average (EMA) structure and stability of support suggest cautious optimism in the market. The coming days could prove critical as a breakout above the resistance level may align with the growing narrative around ETFs, fostering further growth.
The Relative Strength Index of XRP is returning to neutral territory: Is the momentum shifting?
The Relative Strength Index (RSI) of XRP has significantly recovered, rising from 36.51 yesterday to 50.40 today, after previously peaking at overbought levels of 70.95 on April 28.
This shift reflects a decrease in selling pressure following a sharp decline, placing XRP in a more neutral technical zone.
Although the RSI has not yet fully recovered to bullish territory, a return above 50 often signals a potential shift in momentum, especially if it continues to rise in the upcoming sessions. The RSI is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100. Readings above 70 typically indicate that the asset is overbought and may require correction, while readings below 30 suggest oversold conditions and potential for recovery.
Now, with the RSI of XRP at 50.40, the asset is neither overheated nor undervalued, indicating market indecision.
However, holding this level or rising may support a short-term bullish scenario, especially if accompanied by strong volume or a breakout above the nearest resistance.
XRP is trying to determine its direction
The Ichimoku cloud chart shows that XRP trading is occurring slightly above the cloud. This zone often acts as dynamic support in bullish settings.
The current position indicates weak bullish momentum. However, the cloud ahead has shifted from green to red. This shift signals potential resistance and a weakening trend outlook.
The Tenkan-sen line (blue line) and Kijun-sen line (red line) are positioned close to each other and are mostly flat. This reflects short-term uncertainty, even as the price remains slightly elevated. The Chikou Span line (green lagging line) is still oscillating near past price action, not providing strong confirmation for a continuation of the bullish trend.
The transition to the red cloud ahead introduces caution as it may represent a future struggle between bulls trying to hold above support and bears aiming for a reversal.
A decisive move away from the cloud—either upward or back into it—is likely to determine the next trend direction for XRP.
XRP Maintains Bullish EMA Structure but Faces Key Price Levels
The exponential moving averages (EMAs) of XRP remain bullish. Short-term lines are still above long-term ones, signaling upward momentum. This is occurring against the backdrop of an increasing likelihood of spot ETF approval for XRP reaching 85% by 2025.
However, price action is stuck between resistance at $2.30 and support at $2.15. This is a narrow range where either side could take control.
If support at $2.15 is tested again and breaks, XRP could fall to $2.03 and possibly $1.90. This would put pressure on the bullish structure. Conversely, a successful breakout above resistance at $2.30 could trigger a new phase of growth, especially if followed by a move above $2.36.
In this case, the price of XRP is likely to target $2.50 and possibly $2.64 as the next resistance zones.
As long as the EMAs maintain their current structure, bulls retain a technical advantage. However, a decisive move beyond the current range is needed to confirm the next trend direction.#Write2Earn #BinanceSquare #crypto #Binance #xrp $XRP