XRP is showing signs of waning momentum as the week wraps up, sparking interest among traders and investors who closely monitor the asset’s price behavior across market timeframes.
Currently priced at $3.1947, XRP has recorded a 4% decline over the past 24 hours. This pullback has caused speculation about whether the token’s local downtrend has run its course or if further losses may lie ahead. Market activity suggests that bulls are beginning to lose their grip as selling pressure intensifies.
On the hourly chart, XRP briefly dipped below a crucial support level near $3.1618 but swiftly returned above it. Although this move could be interpreted as a false breakout, a daily close significantly above this support could offer bulls a short-term window for a rebound, potentially pushing XRP toward the $3.25 level. However, lacking a sharp bullish response, the token remains vulnerable to continued downward movement.
Widening the lens to examine the broader timeframe, XRP still finds itself retreating after an unsuccessful attempt to secure a close above $3.3338. This failure to maintain higher levels reinforces bearish sentiment, as buyers failed to build the momentum needed to establish a stronger support base above that resistance threshold.
The midterm outlook reflects continued ambiguity. XRP remains positioned far from major support and resistance zones, making it difficult for either bullish or bearish forces to claim dominance. Compounding this uncertainty is a noticeable decline in trading volume, which indicates reduced trader participation at current price levels. In such a scenario, market observers should anticipate sideways price action in the near term.
Analysts expect XRP to maintain a range-bound movement between $3.00 and $3.20 for the coming week, barring any fundamental news or breakout events that could shift sentiment in either direction. This consolidation phase may serve as a preparatory stage prior to a decisive market move.
While the token’s recent behavior doesn’t yet point to a major trend reversal, it’s essential to monitor key price levels for emerging patterns. A successful break above the $3.3338 resistance could signal an upward shift, while a continued decline below $3.1618 may expose XRP to further losses. Until then, range-bound movement is the most probable scenario.
Crypto traders assessing XRP’s short-term potential will need to stay cautious, especially given the current low volume environment. Any significant market intervention or broader changes in investor sentiment could quickly disrupt this neutral phase.
Related: XRP Price: $12M Max Pain for Bears
In summary, although XRP’s technical indicators hint at a potential bounce, the overall sentiment remains cautious. It will take stronger buying interest or a shift in market dynamics for a compelling bullish trend to re-emerge.
