Is XRP On the Cusp of a Comeback or a Catastrophic Collapse?
- XRP currently trades at around $3.15.
- The market has witnessed $16.84 million in liquidations.
The day opened with a bear growl, with the crypto assets in painful red vibes. Assets are losing their ground, like waiting for heavy storm clouds. The overall market sentiment is greedy, as the Fear and Greed Index value settled at 60. Notably, Ripple’s XRP has slipped by over 2.06%, confronting volatility with a potential of moving both ways.
The asset attempted to move up in the early hours but failed and is facing downward pressure. The daily high and low range of XRP was noted at around $3.26 and $3.11. At the time of writing, XRP trades within the $3.15 zone, with its daily trading volume soaring by over 17.37%, reaching $7.97 billion. The XRP market has seen a $16.84 million liquidation.
Furthermore, the Ali chart reveals that XRP broke out of a multi-year symmetrical triangle in November 2024, signalling a strong bullish trend. Based on Fibonacci extension levels, the breakout projects a potential target around $12.60, implying a significant upside if the momentum continues.
Will XRP Reverse Its Bearish Momentum?
The technical indicators of XRP report that the Moving Average Convergence Divergence (MACD) line has crossed below the zero line, and the signal line is above it. This suggests that the momentum is slightly bearish; also, a short-term bullish crossover is forming. Moreover, the Chaikin Money Flow (CMF) value at -0.21 indicates a moderate selling pressure in the market, with the money flowing out of the asset, but it is not at an extreme bearish level.
In addition, the daily Relative Strength Index (RSI) settled at 44.30 hints that the asset is in neutral to slightly bearish territory. Also, there is room for either a rebound or further decline. XRP’s Bull Bear Power (BBP) reading of -0.0950 signals that the bears are dominating the market. The momentum could shift quickly if buying interest picks up.
XRP’s four-hour timeframe exhibits that the price may slip and find its support at $3.10. If the bears further breakdown from this level, the price could reach a low of $3.05, which would confirm a deeper bearish correction. However, upon the bullish power, the $3.20 range might likely be tested as its initial resistance. A breakout beyond $3.26 would be pushing for further upside correction.
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Is XRP On the Cusp of a Comeback or a Catastrophic Collapse?
- XRP currently trades at around $3.15.
- The market has witnessed $16.84 million in liquidations.
The day opened with a bear growl, with the crypto assets in painful red vibes. Assets are losing their ground, like waiting for heavy storm clouds. The overall market sentiment is greedy, as the Fear and Greed Index value settled at 60. Notably, Ripple’s XRP has slipped by over 2.06%, confronting volatility with a potential of moving both ways.
The asset attempted to move up in the early hours but failed and is facing downward pressure. The daily high and low range of XRP was noted at around $3.26 and $3.11. At the time of writing, XRP trades within the $3.15 zone, with its daily trading volume soaring by over 17.37%, reaching $7.97 billion. The XRP market has seen a $16.84 million liquidation.
Furthermore, the Ali chart reveals that XRP broke out of a multi-year symmetrical triangle in November 2024, signalling a strong bullish trend. Based on Fibonacci extension levels, the breakout projects a potential target around $12.60, implying a significant upside if the momentum continues.
Will XRP Reverse Its Bearish Momentum?
The technical indicators of XRP report that the Moving Average Convergence Divergence (MACD) line has crossed below the zero line, and the signal line is above it. This suggests that the momentum is slightly bearish; also, a short-term bullish crossover is forming. Moreover, the Chaikin Money Flow (CMF) value at -0.21 indicates a moderate selling pressure in the market, with the money flowing out of the asset, but it is not at an extreme bearish level.
In addition, the daily Relative Strength Index (RSI) settled at 44.30 hints that the asset is in neutral to slightly bearish territory. Also, there is room for either a rebound or further decline. XRP’s Bull Bear Power (BBP) reading of -0.0950 signals that the bears are dominating the market. The momentum could shift quickly if buying interest picks up.
XRP’s four-hour timeframe exhibits that the price may slip and find its support at $3.10. If the bears further breakdown from this level, the price could reach a low of $3.05, which would confirm a deeper bearish correction. However, upon the bullish power, the $3.20 range might likely be tested as its initial resistance. A breakout beyond $3.26 would be pushing for further upside correction.
Read More