Recently, the XRP market has shown a fluctuating and relatively strong trend, which is worth investors' close attention. From the technical perspective on the 4-hour level, the XRP price has encountered significant resistance around 3.00 USD, with multiple attempts to break through failing. The BOLL indicator shows that the upper band is at 3.05 USD, and the current price is running between the middle band and the upper band, suggesting that the long positions are still present but facing considerable pressure.



From the perspective of the moving average system, the 10-day moving average is slightly above the 30-day moving average, maintaining a short-term long positions pattern. However, the 5-day moving average shows a flat trend, reflecting a weakening in upward momentum. In terms of technical indicators, although the MACD is still above the zero band, the red bars are shortening, and the fast and slow lines are converging, indicating that the short-term may enter a consolidation phase. The RSI indicator is around 61, which is at a relatively high level, posing a certain retracement risk. It is worth noting that the recent upward trend is accompanied by shrinking trading volume, indicating that funds chasing highs are relatively cautious.

For support levels, investors should follow the range of $2.90 to $2.85. If it falls below this range, it may further drop to $2.80. Resistance levels are concentrated in the $3.00 to $3.05 area. If it can break through with volume and hold steady, XRP is expected to challenge the highs of $3.20 to $3.25.

Based on the current market situation, it is recommended that conservative investors consider buying on dips after stabilizing in the range of $2.90 to $2.85, with a target set at $3.00 to $3.05 and a stop-loss level at $2.83. For investors with a higher risk appetite, a small position can be attempted for short selling in the area of $2.99 to $3.00, paying attention to the resistance level at $3.05, with a target looking down to $2.90 to $2.85. However, if XRP can strongly break through and stabilize above $3.05, the short strategy should be paused, and attention should shift to the upward targets of $3.20 to $3.25.

Overall, XRP may continue to maintain a slightly strong oscillating trend in the short term. It is recommended that investors focus on range trading and act in accordance with the trend. At the same time, it is essential to control positions and set reasonable stop-loss levels to cope with market uncertainties. In this market environment, it is crucial to stay vigilant and adopt flexible trading strategies.
XRP-1.04%
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