XRP is coiling for a breakout or breakdown, according to the price structure.
With support levels at $2.12 and $1.61 and resistance emerging close to $2.50, XRP is still trading in a tightening descending wedge pattern.
The price was getting closer to the top border of the wedge at the time of writing, but there hasn't been a clear breakthrough.
Early indications of a momentum recovery are shown by the Stochastic RSI, which is at 28.38 and has moved up slightly from oversold position.
Depending on volume and outside confirmation, the price stays in a tightening structure that frequently comes before directional changes.