- XRP consolidates between $3.10-$3.20 after a strong rally, with $3.50 as resistance and $3 as crucial support.
- RSI at 48.08 suggests fading momentum, while MACD remains bearish; a break above $3.20 is needed for bullish continuation.
- Trump’s pro-crypto stance boosts XRP optimism, fueling hopes for broader blockchain adoption.
XRP has had impressive performance in the last few weeks, trading at $3.12 on January 23, 2025, following a monthly increase of 39.45%. This price surge is attributed to a potentially favorable regulatory market, with Donald Trump’s administration easing crypto restrictions. Analyst Egrag Crypto also highlights long term potential, predicting possible targets of $27 and $48 under Elliott Wave analysis.
Price Action and Market Trends
On a 4-hour timeframe, XRP’s price has been intriguing. Key price levels included a high of $3.15 and a low of $3.10, with consolidation between $3.10 and $3.20.
XRP’s uptrend began with a rally from below $2.00 to over $3.00, yet resistance near $3.50 remains strong. Current support is at $3, which should be monitored to predict potential moves.
Despite its bullish moves, the price has recently shown signs of slowing momentum. XRP must break above $3.20 to resume upward movement toward $3.50. On the downside, losing the $3.10 level could lead to further declines, potentially testing $3 or even $2.80 if selling dominates.
Technical Indicators
XRP’s RSI, at 48.08, has dropped from overbought levels above 70, indicating reduced buying strength. A dip below 40 may suggest further bearish pressure, while a rebound above 55 could reignite bullish sentiment.
The MACD, with its line at 0.0077 below the signal line at 0.0131, suggests bearish momentum. A bullish crossover is important to resume upward trends, while sustained bearish levels could signal further downside risks.
Market Under Trump Administration
Donald Trump’s pro crypto stance has created a potentially favorable field for XRP and other digital assets. Regulatory efforts led by Paul Atkins, known for supporting innovation, could reduce barriers for digital assets.
Ripple’s XRP gained legal clarity after a federal judge ruled in July 2023 that XRP is not a security when sold to retail investors on exchanges but the SEC appealed the case on 15th January 2025.
Trading volume remains lower during consolidation but is a key metric to watch. A volume spike could lead XRP’s price above $3.20 and could confirm renewed bullish momentum. However, low volumes could lead to further price stagnation.
