- XRP trades below its 50 day MA at $2.44, suggesting near term pressure despite holding above the 200 day MA at $2.25.
- Bollinger Band support at $2.32 is key; a bounce could lead to a retest of $2.60, while a drop risks falling to $2.20 or lower.
- MVRV Z-score at 29.03 indicates overvaluation, limiting upside unless stronger buying or engagement revives near current levels.
On May 19, at press time, XRP was trading at $2.34, down by 1.79% over the past 24 hours and 2.05% over the week. Despite the short term dip, the asset is up by 12.60% on the monthly scale, suggesting a possible recovery.
Price action shows a cooling-off period after XRP reached the upper Bollinger Band and retraced toward the middle line, which is near $2.32. The move aligns with moderate trading volume around 53.09 million, pointing to trader caution rather than aggressive selling.
XRP has held above its 200 day moving average of $2.25, which indicates long-term strength. However, it remains under short term pressure, trading below its 50 day moving average of $2.44.
The recent golden cross, formed earlier in May when price moved above both the 50 and 200 day moving averages, added strength to the long term bullish outlook, though near term resistance remains.
Mixed Signals from Bollinger Bands and Volume Activity
XRP’s current position between the Bollinger Bands suggests ongoing consolidation. The middle band at $2.3218 is acting as immediate support. A bounce from this level may enable another test of the upper band at $2.6062.
However, a breakdown below could lead to a movement toward the lower band near $2.0374. Trading volume is active but not extreme, suggesting that recent losses are due to profit taking rather than panic driven exits.
Adding to this, the MVRV Z-score reads 29.0250, placing it within the overvalued zone but outside the extreme red area. Historically, such levels have preceded corrective phases unless the score dips below 20. There is limited upside unless stronger buying interest revives near key support levels.
Price Trends, Moving Averages, and Holder Confidence
The price is below the 50 day moving average, placing pressure on the bullish setup. At the same time, XRP holds above the 200 day average, which supports a longer term recovery pattern.
This divergence hints at near term uncertainty, especially with Daily Active Addresses (DAA) dropping to 10.6K from highs above 390K. The reduced address activity suggests weaker activity, weakening momentum.
However, the growing number of total holders, now approximately 6.48 million, indicates continued long term interest. This rising holder base may help provide support near critical levels as traders monitor activity for signs of rebound or breakdown.
Recent Patterns and What to Expect on May 20
From November to February, XRP had a sharp upward movement followed by steep corrections. The price then stabilized in April, shifting into a gradual uptrend. This uptrend formed higher lows, but resistance near $2.95 and later at the 50 day MA has stalled further progress. The ongoing pullback toward the $2.32 level puts focus on whether XRP can hold this pivot.
If XRP reclaims the 50 day moving average at $2.44, then buyers may push toward $2.55 or even $2.60 on May 20. However, continued weakness in daily engagement and pressure below $2.32 may drag prices lower toward $2.20 or $2.15.
