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- XRP shows minor losses but strong investor interest, as trading activity and buying pressure continue to build.
- A breakout above the descending channel could push prices toward $3.00, $3.37, and even the $5.00 resistance zone.
- RSI and MACD indicators reveal early bullish momentum, suggesting growing strength for a possible price rally ahead.
Ripple (XRP) is currently trading at $2.64, with a slight drop of 0.21% in the last 24 hours. The trading volume also increased by 18.14%, and currently it is at $5.47 billion, although it experienced a slight decline. This rise in activity is an indicator of high investor interest. In the last week, XRP has increased by 10.52%, indicating that buyers are reasserting their dominance following weeks of consolidation.
Source: CoinMarketCap
XRP Breaks Above Channel Midline
A well-known analyst, Jonathan Carter, highlighted that the two-day chart shows XRP breaking above the midline of a falling channel. The price has remained at the bottom level, which has created a solid support base that might be going up. In the long run, the breakout is likely to sustain targets at $3.00, $3.37, $4.00, and $5.00, indicating that the bullish trend may persist.
Source: X
The general technical configuration facilitates additional recovery. The structure of XRP reveals more low values and consistent purchasing interest. These indicators tend to denote an increasing confidence in traders. Should the momentum persist, XRP may leave its present zone for a stronger short-term upsurge.
RSI and MACD Reveal Early Signs of a Potential XRP Reversal
The Relative Strength Index (RSI) stands at 52.70, which is stronger than the signal value at 42.75, indicating weak bullish activity. The sign indicates that it has some more upside before it gets to the overbought area. This increase in RSI might be further evidence of an increase in buying pressure and a rise in short-term sentiment.
Also Read: SBI CEO Cheers Ripple’s Bold Move: Hidden Road Acquisition Sets New Digital Asset Era!
The Moving Average Divergence Convergence (MACD) also contributes to the bullish picture. The MACD line is 0.04237, which is a little higher than the signal line at -0.03889, and the histogram is at -0.08126. This crossover trend suggests the initial evidence of a potential reversal of the trend.
Source: TradingView
Trading Volume and Open Interest Show Neutral Momentum
CoinGlass data show that trading volume grew 0.99% to $8.62 billion, and open interest also increased by 0.45% to $4.57 billion. The OI-weighted funding rate is 0.0067%, which implies a neutral derivatives market. These data points depict an equal standing of both the buyers and the sellers, which forms a stable platform for the next decisive action.
Source: CoinGlass
XRP is positioned close to one of the major technical inflections. The increase in trading volumes, consistent funding rates, and gaining momentum all indicate the growing interest of buyers. An opening above the resistance would confirm the bullish position and push the price to the other significant targets in coming days.
Also Read: Chainlink Price Prediction: Is LINK Preparing for a Breakout Above $19?
