Cryptocurrency Ripple (XRP) recorded a value of $2.07 as of April 9, achieving a 24-hour trading volume of $8.12 billion and a market capitalization of $121 billion.
According to Bitcoin.com News on the 9th (local time), XRP was traded with significant volatility, ranging from $1.73 to $2.086 in a day. On the 1-hour chart, XRP experienced a strong upward movement followed by a correction period, breaking through the $1.85 resistance line and rising to $2.086.
The area between $2.00 and $2.05 has formed a notable support line. Intraday traders view this range as the basis for an upward pattern, especially if XRP forms a flag pattern or revisits this area with low trading volume. The upside resistance is located near $2.15 to $2.20, serving as a target for short-term trading.
The 4-hour chart shows a broader rebound, sharply recovering from the $1.61 low to above $2.05. This recovery, supported by consecutive green candles and significant volume inflow, suggests a positive shift in medium-term sentiment. The resistance near $2.18 appears with an upper tail rejection pattern, presenting a significant challenge for buyers. If the $2.05 to $2.10 range is definitively broken and maintained, it could progress to the $2.20 area. On the downside, a support line near $1.95 serves as an appropriate stop-loss zone for position traders monitoring this timeframe.
On the daily chart, XRP shows a strong reversal after a long-term decline, with prominent green candles and increased trading volume. The recovery from the $1.61 low, a mix of short covering and new buying interest, signals a potential trend change. Resistance is expected between $2.10 and $2.20, with a close above this range further strengthening the possibility of continued ascent. With continuous progress, the price target could extend to the $2.45 to $2.60 area, aligning with previous resistance clusters. Conversely, failure to maintain levels above $2.00, especially with decreasing volume, could raise concerns about a false rally.
Oscillator indicators currently lean towards neutral, indicating a consolidation phase rather than a decisive momentum increase. The Relative Strength Index (RSI) is at 44.98, sitting in a neutral range avoiding both oversold and overbought extremes. Stochastic is at 36.68, Commodity Channel Index (CCI) at -91.57, Average Directional Index (ADX) at 23.34, and Awesome Oscillator at -0.28, all suggesting ambiguous momentum. The Momentum (10) indicator is the only bullish signal, recording -0.086 and generating a buy signal. However, the MACD level at -0.113 sends a bearish warning, reflecting long-term uncertainty despite temporary strength.
Moving Averages (MA) show a mixed technical outlook. The 10-day Exponential Moving Average (EMA) and Simple Moving Average (SMA) at $2.027 and $2.024 respectively signal buying opportunities and recent price strength. However, subsequent moving averages from 20 to 100 days indicate negative signals, suggesting XRP remains in a long-term downtrend from a historical perspective. Particularly, the 200-day EMA ($1.948) and 200-day SMA ($1.859) send bullish sentiment, indicating price has recovered stability above long-term trend markers. This contrast between short-term optimism and medium-term skepticism emphasizes the need for confirmation levels, such as a daily close above $2.10, to confirm XRP's future trajectory.
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