$XRP (XRP/USDT) Daily Chart Analysis – 🔄 Consolidation Phase?

Current Price: $2.4812 (-2.58%)

Daily Range: High: $2.5638 – Low: $2.4312

🔹 Key Technical Insights:

Trend & Price Action:

XRP has been consolidating in the $2.40 - $2.60 range, struggling to break higher.

Bollinger Bands indicate a squeeze, suggesting low volatility but potential breakout ahead.

Price is holding above key moving averages, signaling underlying bullish momentum.

Moving Averages (MA):

✅ Bullish: SMA 5, SMA 10, SMA 20, SMA 50 → Uptrend intact

Momentum Indicators:

RSI (D: 58.75, 15: 46.48, 60: 49.39, 240: 58.40) → Neutral to slightly bullish, no extreme overbought/oversold conditions.

Stochastic RSI: Bearish crossover → Could indicate short-term weakness.

MACD: Bearish crossover → Suggests a possible pullback before resumption of the uptrend.

ADX: Weak trend signal, no strong directional bias.

MFI (Money Flow Index): Bullish range, indicating buying pressure remains.

VWAP: Downtrend, showing short-term selling pressure.

📉 Key Support & 📈 Resistance Levels:

📈 Resistance: $2.60, $2.75, $3.00

📉 Support: $2.40, $2.20, $2.00

⚠️ Outlook & Trading Plan:

✅ Bullish Scenario: A breakout above $2.60 could send XRP to $2.75 - $3.00.

⚠️ Bearish Risk: A drop below $2.40 might trigger a retest of $2.20 - $2.00.

📢 Conclusion:

XRP is in a consolidation phase, awaiting a breakout. Bullish signals outweigh bearish ones, but a strong move above $2.60 is needed for further upside. Keep an eye on MACD & VWAP for confirmation of trend direction.