- XRP trades at $2.21, with sideways amid low volatility; Bollinger Bands and volume hint at an upcoming price shift.
- A death cross between 50 day and 200 day moving averages suggests bearish momentum unless price breaks above $2.23.
- XRP’s 6.34M holders show rising interest despite a 38% drop from March highs, indicating ongoing market engagement.
On May 2, at the time of publication, XRP was trading at $2.21, a 0.37% gain over the past 24 hours. Over the past week, the token increased by 1.19%, while its 30 day performance showed a stronger 6.61% surge. XRP’s market cap is at $129.52 billion after increasing by 0.50%.
However, daily volume dropped by 35.56%, totaling to $2.25 billion. XRP’s fully diluted valuation is at $221.38 billion, while the circulating supply was 58.5 billion out of the 99.98 billion total tokens. XRP’s volume to market cap ratio is at 1.75%, indicating reduced trading activity.
Tight Range Movement and Potential Breakout
XRP has had a sideways movement since mid-April, consistently aligning with the 20 day simple moving average. Bollinger Bands place the upper limit at $2.3010 and the lower band at $2.0197, with the mid band resting at $2.1603. The price is slightly above the mid band, hinting at mild upward pressure.
Source: TradingView
However, the narrowing of the bands indicates limited volatility. Candlestick wicks across recent sessions indicate indecision, suggesting price consolidation. This behavior, together with the tight band formation, could point to a change in movement if volume changes.
The Accumulation/Distribution (A/D) line is flat near 73.89 billion. This position suggests XRP is neither facing intense selling nor aggressive accumulation. Volume remains steady, with a slight bullish bias, aligning with its stable range and supporting cautious optimism.
Moving Averages Indicate Bearish Outlook
XRP has fallen roughly by 38% since its recent high near $3.38, with the price now near $2.08. A strong downtrend began in mid March and remains in effect. The 50 day moving average is at $2.23, now below the 200 day moving average at $2.32. This forms a death cross, a technical pattern that typically indicates downward pressure.
Source: Santiment
XRP trades below both averages, emphasizing the bearish outlook. Unless the price recovers above $2.23, it risks further decline. However, reclaiming this level could change near term direction.
At the same time, the number of XRP holders surpassed 6.34 million, showing rising interest despite falling prices. The total XRPL assets issued remained stable near 5,038, indicating steady development.
Key Levels to Watch on May 3
If XRP moves above the $2.30 Bollinger Band, it may test resistance near $2.35 to $2.40. However, if momentum fails and it dips below $2.16, support levels around $2.05 to $2.00 could be tested.
Additionally, reclaiming the 50 day moving average at $2.23 might allow a short-term push toward $2.30 or higher. A continued rejection below that level, however, could open a decline to $1.95 or even $1.90. Price on May 3 will likely depend on volume changes and broader sentiment.
