The cryptocurrency market was active recently, but the price of XRP did not move as much as some other metal currencies – at least at the present time. However, XRP is known for fast and unexpected movements and is fixed at an important support level on the daily chart. At the time of this report, XRP is traded at $ 2.45.
XRP recently showed signs of strength. Last week, a small withdrawal movement and a side movement witnessed the declining difference. But now, the RSI index is moving up, indicating that this weakness may end – especially while bitcoin and other altcoins bounce.
Currently, XRP retains a price range between $ 1.57 (the lowest level in April) and $ 3.40 (modern high). The price has not yet appeared in any of the two directions. Analysts suggest that this range can develop into a triangle style or other formations over time.
XRP analysis in the short term
In the shortest time frame, XRP is trading between $ 2.15 and $ 2.31 in support, and $ 2.48 to $ 2.61 as resistance. The price is currently side by side, and traders are monitoring for a possible outbreak of more than $ 2.62. If this happens, this may be the first sign of a greater gathering in the foreground.
As long as XRP exceeds the lowest level on Monday, the short -term trend is still positive. There is an opportunity that we can see a quick leap towards an area between 3.30 to $ 3.40, especially if bitcoin continues and the broader market is gaining momentum.
What do you watch?
If XRP decreases to less than 2.31 dollars and then $ 2.28, this may indicate the end of the last short-term gathering, and the price may decrease towards an area of $ 1.79-2.60 before finding new support.
In general, although XRP is currently moving within a narrow range, the larger image remains optimistic-with no major signs, provided that the highest-term formation is formed so far.
