Ripple (XRP) is currently trading at $3.10, an increase of 3.2% over the last 24 hours. The trading activity of the token is healthy, and the trading volume increased by 62.12% and now stands at $7.36 billion. Market momentum indicates a high level of buyer interest in the short-term perspective.
Source: CoinMarketCap
In the past seven days, XRP has gained by 3.01%. The gradual upward trend reflects the strength even in the face of greater market instability. Investors are still waiting on the coin as it continues to climb both in price and volume.
Crypto analyst Egrag Crypto mentioned definite lower and higher targets for XRP. To the downside, $3.03 is one of the crucial levels to retest. The analyst observed that this retest could have been done on September 15. A downward move below $3.03 will push XRP to the level of $2.85. This is regarded to be a solid support on the daily chart.
On the positive side, closing at a level above $3.20 is identified as a bullish move. This would indicate willingness to achieve additional profits. The second target is $3.30, which is denoted as a key breakout point. This would be a milestone in affirming the trend and an elongated rally.
Source: X
Also Read: XRP Holds $3 Support as Bulls Eye a Break Above $3.10
The Relative Strength Index (RSI) indicates a consistent upward movement. The present RSI is 58.26, and the signal line is 53.31. These values ensure that XRP is not in the overbought zone and reflects good growth opportunities. This level is treated as an indicator that the asset is gaining strength without a high possibility of a pullback by traders.
The Moving Average Convergence Divergence (MACD) provides another confirmation of momentum. The MACD line is 0.02226, the signal line is 0.01144, and the histogram is 0.03370. The divergence of the lines suggests the appearance of bullish pressure.
Source: TradingView
CoinGlass data shows that the trading volume increased by 79.70 percent to $9.04 billion. The open interest increased by 6.96 percent to $9.11 billion. The OI-weighted funding rate is 0.0105 percent. These numbers underscore an increasing convergence between derivative and spot markets to support the existing price.
Source: CoinGlass
The short-term trends of XRP will now depend on its ability to overcome resistance or stay above support levels. An established rise above $3.20 may prolong the wave of bullishness. The failure to maintain levels above $3.03 may lead to a decline towards the $2.85 region. The Ripple is positioned at a pivotal point in a trend, with technical indicators suggesting a potential upward movement.
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