The Ripple XRP is down by more than one percent and is currently negotiated at $ 2.30. Although short -term price movements can occur, the global trend suggests that a major movement is not expected at the moment. Despite this, short -term bullish action can still occur, although the wider trend remains moderate.
Short -term bullish price action
In the past few days, XRP has experienced a positive price movement. On the 8 -hour table, the price recently broke out of a short -term resistance zone between $ 2.25 and $ 2.30. After piercing, XRP managed to retest this level, transforming it into support. According to analyst Josh of Crypto World, this technical model is a positive sign, because transforming resistance into support generally signals a bull price action.
In the short term, this indicates a favorable perspective for XRP, the next main resistance levels expected between $ 2.65 and $ 2.80. However, there is also resistance around $ 2.50 which will have to be overcome before reaching these upper levels.
Lateral range and lack of momentum
Despite these recent bullish signs, the XRP price is stuck in a side range in the last month, moving to a narrow group. This lack of momentum in both directions is obvious, and although short -term gains can occur, the global market trend suggests caution due to the continuous downward divergence on the 3 -day graph.
Expect more movement
Given the current technical situation and the continuous downward divergence, XRP is likely to remain in a lateral trend in the near future. The bullish momentum is unlikely unless the wider down divergence is approached. Merchants should monitor bullish models in the short term, but the overall market management should remain laterally.
