- XRP faces resistance near $2.21, with a break above signaling further upside potential.
- Strong support at $2.14 holds, but failure to hold may trigger renewed selling.
- MACD crossover and positive histogram suggest cautious optimism for short-term rally.
After a relatively stable climb last week, XRP now finds itself entering the new week with a touch of hesitation. Hovering around the $2.17 mark, the token has slipped just 1.42% over the past 24 hours, a modest pullback that hints at consolidation rather than correction.
Despite the slight bearish tone in the daily chart, the broader technical setup still holds a cautiously optimistic undertone, suggesting that a potential rebound could be on the horizon. The cryptocurrency market has remained active, with XRP seeing heightened trading volume. This indicates that despite minor pullbacks, market participants are staying engaged.
Support and Resistance Define a Tight Range
At the moment, XRP appears to be moving within a narrow channel. Resistance has formed at $2.21, a level that previously rejected upward moves. The $2.18 to $2.19 range also presented minor resistance, where attempts to climb were met with selling pressure.
On the downside, $2.14 emerged as a strong support level. This is the lowest point recorded recently and marks a key area where buyers stepped in. Additionally, $2.15 to $2.16 acted as a cushion, stabilizing price action during the intraday pullback.
Besides these key levels, price consolidation around intermediate support zones suggests a base might be forming. If bulls regain momentum, a decisive break above $2.21 could pave the way for further upside. However, failure to hold $2.14 may bring renewed selling pressure, making the next few sessions critical.
Momentum Indicators Suggest a Cautious Optimism
Despite the recent decline, XRP’s technical momentum appears to be turning cautiously optimistic. The MACD indicator has shown a bullish crossover, with the MACD line crossing above the signal line. This early signal of momentum shift could support a short-term rally. The histogram also flipped to the positive side, suggesting growing bullish energy.
Moreover, XRP’s RSI currently stands at 50.51, reflecting a neutral sentiment. This level neither confirms an overbought nor oversold condition. However, any move above 60 could indicate rising buying strength.
As XRP navigates this tight trading range, the coming sessions could prove pivotal. The convergence of support at $2.14 and resistance near $2.21 defines a clear battleground between bulls and bears.
With momentum indicators beginning to tilt in favor of buyers yet broader sentiment still restrained the path forward hinges on whether XRP can break out of its current consolidation phase. A push above key resistance may invite fresh bullish momentum, while a slip below support could expose the token to short-term downside risk.
