Ripple’s XRP has drifted to the green zone and has posted decent gains in the last 24 hours. The price is now eyeing to break the $2.50 mark and is now bouncing from an important support zone. However, according to analyst Josh of Crypto World, there are significant resistance levels above, which could limit its movement in the short term.
he primary support for XRP lies between $2.25 and $2.30. As long as the price stays above this range, there’s potential for the price to hold steady or recover. On the upside, XRP faces resistance between $2.58 and $2.73, with an additional resistance point around $2.53 based on recent highs.
The price of XRP had been showing a bullish divergence, but this signal has recently been invalidated, reducing confidence in a strong upward move. Despite this, XRP is still holding above its support zone, which means there is a possibility for price stability in the near term. Given the current support and resistance levels, XRP is likely to remain within a sideways price range over the next few days, unless a breakout above resistance or a breakdown below support occurs.
On larger timeframes, such as the daily and 3-day charts, there is still a larger bearish divergence present, which could indicate further downside risk. However, the strong support currently in place should prevent a significant drop in the short term, at least for now.
XRP’s price often mirrors the trend of Bitcoin. If Bitcoin moves sideways, XRP is likely to follow suit. Therefore, traders should watch Bitcoin’s movements closely as they will likely provide clues about XRP’s direction in the near future.
XRP is rising due to strong support at $2.25-$2.30 and market momentum, but resistance at $2.53-$2.73 could slow further gains.
XRP holds above key support but faces bearish divergence. It may stay range-bound unless a clear breakout or breakdown occurs.
XRP often follows Bitcoin’s trend. If BTC moves sideways or drops, XRP could mirror its movement, affecting price momentum.
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