1. Current price performance:
- Current price: XRP is currently trading around $2.21–$2.37, with limited volatility in the last 12 hours, having reached a daily low of $2.19 and a high of $2.25.
2. Technical indicators:
- Moving averages: The price is trading above the 50-day moving average (SMA) at $2.19, indicating strong technical support.
- RSI (Relative Strength Index): The indicator is currently showing neutral signals, without reaching overbought or oversold levels.
- Bollinger Band Range: Some analyses indicate a narrowing range on the 12-hour chart, which may signal a significant price move soon, but the breakout has not been confirmed yet.
3. Trading volume and liquidations:
- Trading volume (24 hours): Reached $2.34 billion, with liquidation of long positions worth $14 million against $1.48 million for sales, reflecting temporary selling pressure.
- Network activity: The number of transactions on the XRP network has increased by 12% recently, which may indicate accumulation by investors at current support levels.
4. Support and resistance levels:
- Major resistance: $2.40 (tested today), followed by $2.60 if the first resistance is broken.
- Near support: $2.19 (50-day moving average), then $2.00 as an important psychological support.
5. Potential influencing factors:
- Legal news: The U.S. Securities and Exchange Commission (SEC) has closed the remaining cases against Ripple, which may support long-term confidence.
- Global politics: Trade tensions between the United States and China continue to affect the market, but the pressure has started to ease recently.
Short-term forecasts:
- Bullish scenario: If XRP can hold the price above $2.40, it may target $2.60 with increased confidence.
- Bearish scenario: A breakout below $2.19 could open the door for a decline towards $2.00, especially with continued liquidation pressures.
Summary:
Technical indicators and network activity indicate a balance between buying and selling forces currently, with a focus on levels of $2.19–$2.40. It is advised to monitor a breakout of either of these points to determine the upcoming trend, considering external factors such as legal and economic news.$XRP
