XRP Price Analysis: Moving Averages Align in Bullish Formation
XRP opened May 1, 2025, trading within a tight intraday range of $2.15 to $2.24, maintaining a current price of $2.22. With a total market capitalization of $130 billion and daily trading volume of $2.94 billion, XRP remains in a key consolidation phase with signals suggesting cautious optimism across multiple timeframes.
XRP
On the 1-hour chart, XRP exhibits a recovery trajectory following a sharp dip to $2.124, showing resilience with gradual upward price movement. Candlestick structures with lower wicks indicate consistent buying interest, while micro support is established at $2.20. Short-term resistance has formed around $2.25, where price action has seen repeated rejection. The preferred strategy in this timeframe involves entries between $2.20 and $2.22, contingent on bullish candle confirmation, targeting exits near $2.26 to $2.30. However, a decisive breakdown below $2.18 would nullify the bullish case for intraday traders.