XRP Holds Steady as Traders Eye Breakout Levels
Key Takeaways
- XRP is showing mixed signals between bullish momentum and stagnant network activity.
- The price is currently moving within a narrow range between $2.30 and $2.44 CAD.
- Bitcoin’s strength could potentially lift XRP upward.
- A breakout above $2.46 CAD could be amplified by short liquidations.
- Traders should watch for an increase in volume before entering positions.
Technical Outlook: Uptrend with Resistance Levels
Since mid-April, XRP has been in a moderate uptrend. The price has formed a series of higher highs and higher lows. This trend is supported by the On-Balance Volume (OBV) indicator, which points to sustained demand. Moving averages also show a bullish structure and act as dynamic support zones.
However, the MACD (Moving Average Convergence Divergence) is showing signs of potential weakening. An upcoming bearish crossover above the zero line could indicate a short-term consolidation.
Key Price Zones According to Fibonacci
The Fibonacci retracement levels at $2.47 and $2.70 CAD represent potential resistance zones. These levels could limit the current upward movement. On higher timeframes, the recovery appears more like a technical rebound within a broader downtrend. Traders should keep an eye on these levels to identify potential reversal points.
Sideways Movement on the 4-Hour Chart
In the short-term timeframe, XRP is forming a sideways range between $2.30 and $2.44 CAD. The area around $2.37 CAD acts as medium-term support. Over the past few days, the price has repeatedly bounced off the upper boundary, indicating some hesitation among buyers.
As long as no significant breakout occurs, further fluctuations within this range are likely. However, a breakout above $2.44 CAD could provide fresh momentum.
Bitcoin as a Potential Catalyst
Bitcoin recently broke through a short-term resistance at $104,800 CAD. This move could also provide a boost to XRP. Historically, XRP often follows the broader market trend, especially during strong Bitcoin momentum.
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If this trend continues, a rise above the $2.46 CAD mark is conceivable. In that case, short liquidations could generate additional buying pressure.
Liquidation Zones and Volume Analysis
According to current liquidity analysis, the next relevant zone below the range lies around $2.26 CAD. If the price approaches this level, increased volatility can be expected. At the same time, the currently low trading volume indicates that many market participants are waiting. A sudden increase in volume could signal an impending directional move.
Our Assessment
XRP is currently caught between technical recovery and weak network activity. The short-term price structure suggests consolidation, with a breakout possible in either direction. Bitcoin’s strength could, however, lift XRP upward in the medium term.
For traders, two scenarios are emerging: a breakout above $2.46 CAD with follow-through gains driven by short liquidations, or a pullback toward $2.26 CAD. In both cases, closely monitoring trading volume is essential. Active traders should wait for clear signals and consistently set stop-loss levels. In the long term, XRP remains a speculative altcoin with both potential and risk.
Sources
- TradingView
- Coinglass
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | 2.31 |
| 24h % | -3.77 % |
| 7d % | -4.12 % |
| 30d % | 10.37 % |
| 60d % | -6.18 % |
| 1y % | 342.36 % |
| Official Links | Website |
| Socials | X |
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