|

Ripple market update: XRP/USD pivotal at $0.255

  • Ripple is locked in a range between $0.26 and $0.25 amid low trading activity.
  • No rapid movements expected in the near-term unless a catalyst swings by.

Ripple lock-step trading has seen it remained unchanged across the weekend session. The lock-step trading is, instead, pushing XRP is a range with the limit at $0.26 and a possible support area at $0.25.

The hourly chart for XRP/USD trading pair shows an attempt made to rise above the resistance at $0.26 but the move was rejected and XRP culminated in another slide towards the short-term support at $0.25. Several other lousy attempts have tried to throw jabs at the impenetrable $0.26 but increasing selling activity is emanating from the descending trendline liming movement.

Ripple’s technical levels are slightly positive. The Moving Average Convergence Divergence (MACD) is holding tight on the mean line. Divergence inside the positive region will signal for more buying entry and sustained recovery towards the stubborn $0.28 resistance. The Relative Strength Index RSI) is sloping gradually towards the average as an indication of slightly growing bullish influence.

Meanwhile, investors should not expect rapid movements in the near-term sessions unless there is a catalyst. Besides the support at $0.25, traders need to be on the lookout for zones at $0.2450 and $0.2400 as they still remain vulnerable to losses.

XRP/USD 1-hour chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Ripple and Stellar outlook: XRP and XLM await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

Crypto Market Overview: Bitcoin recovery eases – HBAR and LDO test key resistance zones

Bitcoin edges below $66,000 extending the previous day's losses. Hedera and Lido DAO sustain bullish momentum, testing the breakout of a crucial resistance zone to extend their rally. CoinMarketCap’s Fear and Greed Index at 39 stalls below the neutral territory, indicating that sellers remain dominant.

Senate Republicans release updated CLARITY Act with new crypto ethics restrictions

Senate Republicans released an updated version of the Digital Asset Market CLARITY Act on Wednesday following briefing calls with stakeholders. The update adds a package of ethics restrictions targeting digital asset activities by public officials and their spouses.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge
The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure (on-chain) and traditional finance (TradFi), according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts
Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.