Ripple’s XRP has won 6% over the past seven days. However, the price drops by more than 2% on the daily graph and is struggling to break the $ 2.50 mark. On the positive side, after five weeks of withdrawals, digital assets investment products registered enormous inflow. XRP and BTC led the positive sentiment and raised a combined $ 730 million. Ripple secured second place, while Ethereum was confronted with the greatest outsource. In addition, polymarket gamblers reached a new highlight of 87%, and bet that the SEC approves a spot ETF for XRP in 2025.
SIDEWAYS PRICE ACTION
XRP has moved sideways and experiences bounces in the short term, but a larger bearish divergence remains active on the 3-day graph.
This continuous Bearish Trend suggests that, despite the potential for short bullish movements, a considerably upward momentum is unlikely in the short term. The price is still not expected to see the kind of explosive growth as we saw in November 2024.
According to analyst Josh van Crypto World, XRP continues to bounce within a defined lateral price range. Support is found between $ 2.24 and $ 2.30, with extra support in the range of $ 1.95 to $ 2.05. On the resistance side there is an important level around $ 2.59 based on the newest price, followed by a stronger resistance between $ 2.65 to $ 2.80 and another resistance to the $ 3.
Neutral short -term prospects
XRP shows a relatively neutral attitude in the short term. The prize bounced between support and resistance without any significant passage in both directions. The lack of Momentum means that the market is currently in a consolidation phase, with little indication of an outbreak in both directions for the time being.
Credit : coinpedia.org
