As of Monday morning, XRP trades at $2.68 with a market cap of $154 billion amid cautious market engagement. Immediate bearish momentum is observed as it struggles to hold recent support levels. A sustained close above $2.76 could signal potential gains, while a drop below $2.60 may heighten selling pressure.

As of Monday morning, XRP is priced at $2.68, representing a market capitalization of $154 billion, and exhibiting a 24-hour trading range of $2.64 to $2.76 with a trade volume of $3.75. This indicates cautious market engagement as traders evaluate the asset’s immediate momentum.

The 1-hour chart indicates a persistent bearish trend, with XRP struggling to maintain support within the critical range of $2.60 to $2.65. Diminished trading volumes suggest waning buyer interest, particularly as price oscillates near the lower intraday limits. If XRP slips below $2.60, it may trigger a more significant downturn towards support levels at $2.30 to $2.40, while a bullish reversal requires confirmation through increased volume.

On the 4-hour chart, a developing uptrend encounters notable resistance around $2.80 to $2.85, characterized by frequent rejections. Though recent price recoveries suggest bullish activity, the lack of strong volume raises concerns about the sustainability of these gains. A decisive closing above $2.85 could lead to a psychological target of $3.00, but failure to do so may result in a decline back to $2.65 support.

The daily chart displays a broader downtrend, despite XRP recovering from recent lows near $1.78. The resistance zone near $2.80 to $2.85 represents a critical threshold for any potential recovery. Volume analysis indicates capitulation during past declines, with the current rebound reflecting weak participation, thus illustrating skepticism from buyers over the sustainability of recent gains.

XRP’s oscillators presently exhibit a neutral bias, with the relative strength index (RSI) at 50.74 and Stochastic at 81.66 indicating balance between buying and selling pressure. However, divergence exists within momentum indicators, leading traders to prioritize price action over oscillator data until a clearer trend emerges.

Current moving averages reflect a bullish sentiment, with various exponential averages suggesting buying opportunities. In contrast, the 30-day and 50-day simple moving averages recommend selling, mirroring potential near-term resistance. The support delineated by the 200-day SMA reinforces long-term bullish prospects, providing traders with critical benchmarks against the prevailing price.

In summary, at the trading level of $2.68, XRP holds potential for upward movement if buyer interest strengthens. A sustained close above the intraday high of $2.76 may further propel the asset towards the $3.00 mark, contingent on increased volume confirming any bullish reversal.

Conversely, the mixed market conditions and low trade volume, along with the risk of falling below $2.60, suggest that investors must proceed with caution. A breach of this support zone could significantly enhance selling pressure, compelling traders to remain vigilant amidst these technical challenges.

XRP currently trades at $2.68 but faces mixed momentum indicators, with bearish pressures potentially leading to declines if key support levels are breached. A focus on price action confirmation is necessary to identify any bullish reversals, while caution is advised given the low trading volume and risk of further declines below critical support zones.

Original Source: news.bitcoin.com

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