- XRP consolidates between $2.20-$2.40; a breakout above $2.40 could target $2.50-$2.60, while a breakdown risks testing $2.00 support.
- RSI at 50.62 and moderate volume (5.19M) suggest market indecision; a catalyst is needed for bullish or bearish confirmation.
- XRP’s historical surge to $2.89 post-election highlights volatility, with key targets at $2.50, $2.05, and long-term optimism at $10.
On January 11th, at the time of publication, XRP was trading at $2.33, up by 1.38% in the last 24 hours. Despite the broader market correction, XRP remains resilient. This local pullback is part of a broader corrective phase of the crypto market, a potential setup for future price moves. The market’s consolidation suggests traders’ indecision, a scenario worth monitoring.
XRP’s Performance
XRP’s price has shown consistent range bound movement, staying within the $2.20 to $2.40 range. This suggests a balanced sentiment between bulls and bears, neither side gaining the upper hand.
Key support is at $2.20, with recent bounces off this zone. Resistance is strong at $2.40, where price attempts have repeatedly failed. This range bound behavior indicates market indecision, with potential for a breakout in either direction.
Volume and Momentum Indicators
Trading volume is at 5.19M XRP, indicating moderate market activity. This level of volume, together with lack of major surges, suggests that the market is waiting for a catalyst to lead to the next price level. The RSI is at 50.62, near the neutral midline, a balanced momentum without clear bullish or bearish dominance.
The MACD shows a slight bullish signal with a positive histogram of 0.0122. Although this suggests a potential early bullish reversal, the weak momentum indicates a need for stronger follow through to confirm a trend shift.
Potential Scenarios and Key Levels
If XRP breaks above the $2.40 resistance, increased volume and RSI moving above 60 is crucial to confirm bullish momentum. A successful breakout could target the $2.50 to $2.60 range in the short term. A breakdown below $2.20 could lead to testing lower support levels around $2, especially if accompanied by rising volume and RSI falling below 40.
Analyst Ali notes two potential entry points: the rising trendline at $2.05 and a breakout at $2.50. Regardless of entry, the target remains $10, emphasizing the importance of monitoring these levels for any shifts in market sentiment.
XRP’s recent history includes a surge post-U.S. presidential election, with prices spiking from $0.50-$0.60 to $2.89 in December. The optimism was fueled by expectations of crypto friendly policies and potential regulatory clarity.
However, profit taking led to a decline to $2.02 in December, followed by a recovery to $2.39 in early January. This shows the ongoing volatility and potential for further substantial price movements.
