XRP Ledgerโs native token is back on track after the general crypto & stock markets stabilized after Donald Trumpโs announced 90-day global tariff break. After Ripple (XRP) managed to bounce back 22% in 7 days, the $2.50 resistance level is still far away.
Key Factors In XRPโs Journey To $2.50
Currently trading at $2.17, XRP coin is heading towards a pivotal moment that could decide the short-term direction of XRP price. After winning the 6-year long Ripple vs. SEC case and SWIFT conducting XRP Ledger tests on their system, the OG altcoin regained momentum in mid January, trading just two cents below the $3.40 all-time high at one point.
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One particular indication of bullish momentum for XRP would be the Golden Cross, a technical pattern. The geometric figure consists of Exponential Moving Averages (EMA) and occurs when the short-term EMA crosses over the long-term EMA, putting bulls back in power.
A daily close above the $2.23 resistance would solidify the bullish thesis, explained in a detailed thread on X by popular crypto researcher TheDeFiLink. If the clean move above $2.23 doesnโt energize the bulls enough for a push back to the 30-day heights of $2.50, the demand zone between $1.96 and $2 will be the only thing holding XRP coin from a bigger recoil.
Is XRP Coin Overbought Or Oversold?
Although on-chain signals display conflicting results on the altcoinโs current price setup, Balance Of Power (BOP) stood at 0.94 as of publication time, the best result since late March. Further on, the crypto analyst named the Ichimoku Cloud showcasing signs of bullish continuation, depicted in green color in the chart below.
Meanwhile, the Stochastic Relative Strength Index (StochRSI) is heading into overbought territory, hovering between 76 to 62 at publication time. This could concern Ripple (XRP) bulls who are expecting a double-digit run overnight, as over-leveraged long positions on the #4 ranking altcoin have topped $2 million over the past 24 hours, according to real-time stats from CoinGlass.
On The Flipside
- Besides technical implications, Ripple’s native coin destiny is highly linked to outside factors like the potential success of Ripple (XRP) ETF products in the United States.
- XRP & SWIFT partnership talks have sparked a second breakthrough after a mostly red month, but the altcoinโs price still trades over 35 cents below the monthly peak.
Why This Matters
The ever-shifting crypto market can present sudden trend changes, while technical crypto analysis tools help traders to stay ahead of the game.
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