Ripple (XRP) price prediction: Positioned between short-term support level and major resistance level, long positions have not yet broken through.

Today (8) during the Asian afternoon session, Ripple (XRP) has turned to a fall, currently reported at 2.2701 USD, situated between the short-term support level and the major resistance level, which has been at a low point for several months. The price movement has been slowly rising, but the market has yet to see the breakthrough that long positions have been waiting for.

According to Captain Altcoin, last night it consolidated between $2.22 and $2.30, lacking real upward momentum. Both buyers and sellers are locked in, and the market is waiting for someone to take control.

XRP price is holding above the 9-day simple moving average and showing some strength, but not enough to break through the range.

XRP Technical Analysis

The XRP chart has been fluctuating between $2.00 and $2.60 recently. Every time it tries to pump, it gets knocked down by the descending trend line since February.

Recently, the price movement has shown a slight bullish trend. Since mid-June, we have seen the lows continually rising, forming a tight upward channel. However, before XRP breaks the resistance level from $2.33 to $2.60, it has only rebounded again within the same range.

Most indicators for XRP are bullish, but currently, there is no indicator suggesting a breakout. The only one that slightly raises a red flag is the Ultimate Oscillator, whose overall momentum is weakening.

(Source: Trading View)

XRP Price Prediction Scenario

Bullish scenario: If XRP breaks through $2.33 with a volume breakout, we can ultimately expect it to move towards $2.50. This is the breakout zone.

Neutral scenario: If momentum stagnates, XRP price is expected to continue fluctuating between $2.22 and $2.30 as it has in the past.

Bearish scenario: If it falls below $2.00, it could drop to $1.80 or even $1.60, which would completely change the tone.

Summary

XRP price has slightly recovered, but it has not fully rebounded. Buyers hold the support level, indicators are bullish, and the structure is improving.

However, if we cannot break through 2.33 dollars, it is more likely that we will see a consolidation again today. Everyone's attention is focused on the trading volume and that stubborn trend line above.