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Ripple’s XRP is currently down by more than 2% and is trading at $2.43. While some short-term price bounces are typical, especially from support levels or oversold signals, a major price surge like the one seen at the end of 2024 seems unlikely for the time being.
Current Price Action: XRP Trading in a Sideways Range
In the shorter term, XRP is currently moving within a relatively narrow price range. Support is found between $2.24 and $2.30, with further support between $1.95 and $2.05. Resistance levels are at $2.65 to $2.80, and a significant barrier exists around the $3 mark. Recently, the Relative Strength Index (RSI) reached overbought levels, indicating a possible short-term pullback, which was followed by a slight dip in the price of XRP.
RSI Reset Offers Some Room for Upside
After the recent pullback, the RSI has reset, allowing more room for potential upward movement in the near term. However, with strong resistance levels around $2.60 and $2.65, the price will likely struggle to break through these areas without more momentum. Currently, XRP is caught in a sideways range, with no clear direction in either bullish or bearish terms. The market appears to be in a neutral state, balancing between support and resistance.
Bitcoin’s Role in XRP’s Short-Term Movement
As always, Bitcoin’s performance plays a significant role in the movements of other cryptocurrencies. If Bitcoin continues to show short-term relief and breaks above key resistance levels, we could see similar behavior in XRP. However, if Bitcoin faces a major rejection and sees a downturn, XRP is likely to follow suit with a similar drop.
Conclusion: A Neutral Outlook for Now
For the time being, XRP is in a neutral phase with minor bullish action but no significant momentum toward the upside. While short-term bounces are possible, significant price shifts are unlikely unless Bitcoin shows a clear breakout or rejection.
