As of December 4, 2024, Ripple’s XRP is trading at approximately $2.43, reflecting a 4.71% decline from the previous close. The day’s trading range has spanned $2.35 to $2.67, highlighting recent market volatility.
- Relative Strength Index (RSI): At 91.61, XRP is in overbought territory, signaling potential short-term profit-taking.
- Moving Averages:
- 50-Day SMA: XRP trades well above this level at $2.085, confirming medium-term bullishness.
- 200-Day SMA: At $1.949, the price above this long-term average underscores a continued bullish trend.
- MACD (Moving Average Convergence Divergence): The MACD remains in the bullish zone, pointing to sustained upward momentum.
Support and Resistance Levels:
- Support: Strong support is identified at $2.10, with secondary support at $1.91.
- Resistance: Immediate resistance is at $2.78, with significant challenges at $3.05.
Market Activity: XRP has surged by over 450% in the past 30 days, driven by favorable legal rulings and institutional interest. The token recently reached a six-year high, attracting significant attention from investors.
Conclusion: XRP’s current bullish trend signals potential for further gains, especially if it clears the $2.78 resistance level. However, traders should watch for profit-taking given its overbought RSI.
