- XRP trades between $2.00–$2.30 since March, nearing resistance at $2.31 with narrowing Bollinger Bands signaling low volatility.
- A breakout above $2.33 with rising volume could push XRP toward $2.55–$2.70, but resistance may lead to a pullback to $2.00.
- MVRV Z Score at 26.04 signals potential overvaluation, while reduced network activity suggests limited short term upside.
On April 29, at the time of writing, XRP was trading at $2.27, a slight 0.24% dip in the past 24 hours. Despite this, the asset had a 9.56% gain over the week and a 4.07% increase in the past month. Market cap is at $133.06 billion, slightly down by 0.23%.
Daily trading volume reached $3.93 billion, a 4.62% decline. XRP’s fully diluted valuation is at $227.67 billion, while the circulating supply holds steady at 58.44 billion out of a total supply of nearly 100 billion tokens. XRP has a 24-hour volume-to-market cap ratio of 2.96%.
XRP Trades Within Narrow Range
XRP has been in a sideways trend since early March, trading consistently between $2.00 and $2.30. On April 29, the daily range tightened further, with a low of $2.26 and a high of $2.31. Price approached the upper Bollinger Band at $2.31, testing immediate resistance.
The middle band at $2.13 acts as near term support, while the lower band at $1.96 indicates broader downside risk. The volume is moderate at 23.56 million, showing limited trader conviction.
The Bollinger Bands continue narrowing, suggesting reduced volatility in the current zone. The MVRV Z Score is at 26.0430, indicating a potential overvaluation. This raises the likelihood of limited upside without stronger confirmation from the market.
Moving Averages Align Near Spot Price
There is a convergence of the 50 day and 200 day moving averages near current levels. The 50 day MA at $2.33 acts as resistance, while the 200 day MA at $2.25 supports the price. XRP’s proximity to these levels places the asset at a technical inflection point.
Price retraced sharply from a mid March peak above $3.30 to a low of $2.188 by late March. This movement followed a rally marked by speculative interest and elevated address activity.
Since then, address activity cooled off, though long term holder growth remained stable. Active addresses spiked above 600,000 in March but have since declined, suggesting reduced immediate network demand.
April 30 Potential Scenarios
Volume and key moving averages may influence XRP’s price action on April 30. A sustained breakout above $2.31 could lead to a move toward $2.40–$2.45. If price clears the 50 day MA at $2.33 with increased volume and address activity, it may test $2.55–$2.70.
However, rejection near current resistance or a drop below $2.25 may invite bearish pressure toward $2.00 or lower. The coming trading sessions will depend on XRP’s ability to break from consolidation, with macro sentiment and volume being crucial.
