XRP Weekly Overview and Current Price Trends
- XRP declined from $2.30 to $2.17 over the week, forming lower highs and lows.
- Price stayed range-bound between $2.15 and $2.25, showing signs of consolidation.
- Attempts to break $2.23 resistance failed, keeping momentum weak.
- RSI and MACD indicators point to indecision and lack of strong buying pressure.
Over the past week, XRP has trended slightly downward, moving from highs near $2.30 to around $2.17 by May 4. The candlestick pattern shows a series of lower highs and lower lows, reflecting a gradual loss of bullish momentum. Despite occasional small rebounds, particularly on April 30 and May 1, each recovery was met with renewed selling pressure, preventing any sustained upward movement.
Volume has also tapered off noticeably after an early-week spike, suggesting waning trader interest or a period of indecision. With price action remaining tightly compressed between $2.15 and $2.25 for much of the week, XRP appears to be in a consolidation phase, waiting for a catalyst to break the current range. Traders are likely watching $2.15 as key support and $2.25$2.30 as near-term resistance going into the next week.
XRP Stuck in Sideways Drift as Traders Await Clear Direction
XRP remains in consolidation mode, currently priced at $2.18 after slipping 0.38% in the last session. The 4-hour chart shows price compressing within narrow Bollinger Bands, indicating low volatility as traders await a decisive move. Recent attempts to breach $2.23 resistance have failed, keeping XRP locked between $2.17 and $2.23.
Momentum indicators suggest a neutral-to-weak bias. The RSI sits at 42.60 and 46.07, reflecting a lack of strong buying pressure. The MACD is also flat, with its lines (-0.0012 and -0.0082) staying close together and near zero, signaling indecision. For now, XRP appears range-bound, with traders eyeing a breakout to determine the next major trend.
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Text source: TronWeekly
