XRP surged to $3 before experiencing a pullback, settling around key support levels. The correction aligned with Fibonacci retracement levels, bringing the price to $2.33. The current price action indicates that XRP maintains a strong structure, with potential for another upward movement if critical levels hold.
XRP faces resistance at $3, pulls back to key support
After reaching $3, an analysis prepared by Dark Defender on X indicates that XRP encountered resistance, leading to a decline. The price retraced to $2.33, a key support level based on Fibonacci indicators. A further test of $2.22 confirmed its importance in maintaining market stability.
XRP’s structure suggests a possible move toward $2.60 if it maintains support at $2.33 and $2.22. A successful hold above these levels indicates strength, positioning the asset for an upward trajectory. A break above $2.55 could push the price toward $2.80, while failure to maintain $2.40 may result in a decline toward $2.20.
Technical indicators reflect market hesitation
At the time of press, TradingView data indicates that the Relative Strength Index (RSI) stands at 48.07, slightly below the neutral 50 level. The signal line at 43.42 indicates recent attempts to recover from oversold conditions. If RSI moves above 50, it may signal renewed buying activity. A dip below 40 could confirm bearish pressure.
The Moving Average Convergence Divergence (MACD) histogram reads 0.0129, showing minimal bullish momentum. The MACD line remains below the signal line, confirming a recent bearish crossover. A shift into positive territory could indicate potential upward movement, while the current positioning suggests cautious market sentiment.
Market data and trading activity
Tracking the current market insights, CoinMarketCap data reports XRP trading at $2.43, with a 3.45% daily increase. The market capitalization stands at $140.82 billion, reflecting the same percentage gain. The 24-hour trading volume reached $9.68 billion, a 33.88% decline.
The circulation amount stands at 57.94 billion while the total supply of XRP equals 99.98 billion. During the previous 24 hours XRP experienced alternating bullish and bearish price movements. The asset registered a value exceeding $2.50 before experiencing downward movement.
