1. Current price performance:
- Current price: $2.28.
- 24-hour trading range: The price ranged between $2.23 (low) and $2.35 (high).
Daily change: Up 2.10%, with a trading volume of $4.91 billion, indicating high trading activity.
2. Factors affecting fluctuations:
Leveraged speculation: Data showed an increase in leveraged long positions, which increased volatility. However, caution is warranted that excessive leverage could cause a severe correction if liquidations occur.
Liquidity Levels: The price is moving within a narrow range between $2.2 and $2.5, with accumulated liquidity that could indicate a strong move towards $3 soon or a collapse to $1.5 if support is broken.
3. Technical indicators:
Moving Averages: Crossovers between the averages indicate a neutral trend in the short term, with the price trading above the 50- and 200-day averages.
- RSI indicator: approaching 50, reflecting a balance between buying and selling forces without strong overbought or oversold signals.
- MACD: Shows a long-term bearish signal, with the histogram remaining in the negative territory.
4. Support and resistance factors:
Strong support: at $2.2, a crucial level that could lead to a drop to $1.5.
- Main resistance: at $2.5, with a possible test of $3 in the event of a sustained upward breakout.
5. Networking and Adoption:
- Active Addresses: Reached a new record high of 6.87 million addresses, reflecting increased network adoption, a factor that could support an upward trend in the medium term.
Nearby expectations:
- Bullish scenario: If the price maintains above $2.5, it may target $3 with a potential extension to $5.5–$7 in the long term.
- Bearish scenario: A breakdown below $2 could lead to a sharp correction towards $1.5 before a new recovery attempt.
Advice for traders:
- Monitor leverage indicators: Avoid entering large positions during periods of high volatility.
- Use stop loss orders: especially around the $2.2 and $2.5 levels.
- Rely on long-term analysis: As network adoption increases, XRP may experience positive movements despite short-term fluctuations.
