- XRP trades near $2.23, facing resistance at $2.31 while supported by the 50-day MA at $2.20.
- Volume surged by 157.64% to $2.96B, indicating short-term interest but lacking strong accumulation.
- Momentum shows a bullish change, yet consolidation between $2.08–$2.42 keeps the market indecisive.
XRP has maintained modest gains despite recent turbulence, trading at $2.23 on May 9. The token gained by 2.13% in the past 24 hours and 2.80% over the past seven days. However, it had a 5.13% monthly decline. Its market cap is at $131.44 billion, a 2.11% increase.
Trading volume surged sharply by 157.64% to $2.96 billion, indicating increased activity across exchanges. Despite price pressure in April, XRP appears to have the potential to rebound from recent lows near $2.16, although longer-term resistance remains.
Moving Averages and Resistance Zones
The 50-day moving average at $2.20 currently acts as short-term support. XRP price is just above this level. However, the 200-day moving average at $2.31 is a key resistance barrier, with the digital asset struggling to break above it.
Volume spikes around the price swings suggest renewed interest, though not accompanied by sustained accumulation. Total XRP holders are rising gradually, suggesting steady adoption even with fluctuations.
Notably, price movement from late December to mid-February saw XRP peak at $3.38 before sharply declining. It is now trading within a narrow recovery band, showing indecision between bulls and bears.
Indicators Show Consolidation, Breakout Confirmation Needed
Bollinger Bands show reduced volatility. The upper band is at $2.42, middle at $2.25, and lower band at $2.08. XRP recently bounced from levels near the lower band and is now moving near the mid-band zone.
Momentum indicators show mixed signals. The Stochastic RSI is rising, with values at 78.46 and 58.60, nearing the overbought level. This implies bullish momentum but also suggests possible hesitation near resistance.
Meanwhile, the Accumulation/Distribution (A/D) line is flat at 1.745 billion, pointing to a neutral balance in buy-sell pressure. On-Balance Volume (OBV) is at 2.493 billion with no major divergence, supporting the view of sideways consolidation.
Volume Spike Adds Weight to Short-Term Moves
XRP’s daily volume rise could be a short-term push if sustained. However, the price remains between $2.08 and $2.42. The middle Bollinger Band at $2.25 could act as an important zone in the coming days. A move above this range would need further volume support to escape the tight consolidation zone.
On the upside, if XRP breaks above $2.31 and volume remains strong, it could test $2.45 and $2.55. However, a drop below $2.20 may push XRP toward $2.08, with extended downside risk to $2.00 if selling increases.
XRP is in a tight range between key averages and bands, with volume and resistance defining the path ahead. While indicators lean slightly positive, firm direction requires a decisive break beyond current levels. Momentum builds, but market indecision remains, keeping short-term expectations constrained.
Disclaimer : The content shared by The Daily Crypto Post is intended for informational and educational purposes only and does not constitute financial or investment advice. Readers are encouraged to do their own research or consult with a licensed professional before making any financial decisions. The Daily Crypto Post will not be accountable for any financial losses.
