XRP is consolidating near $1.4186 after a rejection at the $1.46 resistance level, according to TradingView. It currently sits slightly above the 20-period SMA, which acts as immediate support.
While the Bollinger Bands remain relatively wide, suggesting lingering volatility, the recent string of smaller candles indicates a temporary pause in the previous aggressive bullish momentum.
The RSI (14) is currently positioned at 54.86, reflecting a neutral market sentiment that leans slightly toward the buyers. It has retreated from overbought territory, suggesting the asset is cooling off without entering a bearish breakdown.
This midpoint positioning gives the price enough room to move in either direction before reaching extreme, unsustainable technical exhaustion levels.
Source: TradingView
The MACD is showing a weakening bullish trend, indicated by the diminishing height of the teal bars on the histogram, while the blue MACD line still remains above the signal line.
This is a sign that, although the technicals are still bullish, the buying pressure is weakening. It is important to monitor a possible bearish crossover if the price is unable to rise above $1.46.
Also Read: XRP Stuck in Broadening Triangle: Can Bulls Reclaim $1.50 Again?
However, the crypto analyst Javon Marks sees the recent correction of the price of XRP as an opportunity for the price to rise again.
Javon Marks states that the price of XRP has corrected after breaking above the long-term resistance trend line. After this correction, the price of XRP again rose, showing that the breakout was successful.
As noted by Javon Marks, if a resistance level changes into a support level, it can often be seen as confirmation of a change in the momentum of the markets.
For XRP, the fact that the pair has rallied off of the former trend-line resistance suggests that the breakout structure is still in place, which may be seen as a form of consolidation before another move upwards in the existing trend.
Source: Javon Marks’ X Post
Based on the size of the previous chart pattern, Javon Marks is projecting a measured move, which may propel the price of XRP towards the $15 level.
If this is achieved, the price gains will be more than 872% from the current levels, and this is among the more optimistic forecasts that are being projected by market analysts.
Also Read: XRP Face-Melting Phase Ignites: Traders Eye $17+ Explosion
