XRP is trading at $1.87, up roughly 1% over the last day, as cautious buyers start to trickle back in after weeks of sideways trading kept traders in limbo. Daily trading volume stands at a respectable $1.06 bn, indicating steady participation rather than some wild speculative fervor.
As the 5th largest cryptocurrency, with a market cap of $113.2 bn, XRP still has 60.57 bn tokens out of 100 bn in circulation, which gives it a fair bit of stability.
Descending Channel Signals Compression
On the 4-hour chart, XRP is still stuck inside a descending channel that has been dictating price action since that $2.11 peak earlier this month. Lower highs are still forming, but the channel’s slope is flatter than before, a sign that sellers are losing their grip.
Candle patterns back this up, too. Lately, small-bodied candles, spinning tops & doji formations are dominating the show, all of which are classic signals of indecision. That sharp selloff in December has now fizzled out, and all we’re seeing is some sideways consolidation with price repeatedly bouncing back up off that $1.85-1.86 support zone each time it comes near.
Each time it’s been the buyers that have jumped in, which suggests demand is quietly gathering strength.
XRP/USD Technical Analysis: Why EMA Levels Could Decide the Next Move
In terms of trend, XRP is still stuck below the 50 EMA at $1.88 & the 100 EMA at $1.92, so from a short-term momentum perspective, it’s still neutral. However, price is no longer drifting away from these averages – in fact, both EMAs are starting to flatten out, which often signals a big move is just around the corner.
The momentum indicators are all telling the same story:
- RSI has pulled back into the low 50s, well away from oversold levels
- No bearish divergence is in sight, so breakdown risk is lower
- Momentum is picking up without any signs of getting out of hand
So all in all, this is showing a balance rather than exhaustion.
XRP Price Outlook and Key Levels
Structurally, XRP price prediction looks like it’s getting ready to make a decision. According to 4-hour chart, a bullish scenario would start when the price breaks decisively above $1.92, opening the door to $1.96 & then $2.05. If that level can hold, then you can bet that $2.10 will be back in play.
On the downside, if support at $1.85 fails then $1.77 is the next port of call, followed by $1.65 near the bottom of that channel.
At the moment, XRP is looking more like a resolution is on the way rather than some continuation of the trend. As long as that support holds, the risk reward profile is looking pretty good, and this sideways consolidation may just be the catalyst that gets the momentum going once again.
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The post XRP Price Prediction: $1.87 Holds — Is a $2.10 Breakout Closer Than It Looks? appeared first on Cryptonews.
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