- XRP surged by 1.4% this week as it was trading at $3.02 and had a critical support at $2.96.
- Price is held at 3.07 which places XRP within a small range of $2.96-$3.07.
- The 50 EMA used on a two month time period indicates bullish market on the higher time periods when the two month candle is closed above the 50 EMA.
XRP is holding up well against the dollar as technicals reflect stronger signals on broader time frames. The token is trading at $3.02, a 1.4% increase over the past week. Support stands at $2.96, while resistance is limited to $3.07. The recent two-month candle close above the 50 EMA adds more validity to the present structure. Market participants are following closely how this intersection of support and moving averages can influence short-term positioning and the overall trend.
Weekly Performance Reinforces Short-Term Stability
During the past week, XRP advanced 1.4%, confirming modest but consistent growth. The current price of $3.02 has kept the asset above its nearby support of $2.96. This support is a significant threshold, because the closeness to existing levels of trading highlights the equilibrium of the buying and selling interest.
It is worth noting that the market is currently trading within a 24-hour band that has been established between support and resistance and as such, there is little room for large fluctuations in the short term.
XRP Consolidates Within Tight Range as Long-Term Momentum Builds
The upper resistance barrier of $3.07 continues to define the ceiling for the market. This level has not yet been surpassed, keeping price confined to a narrow corridor. However, the interaction between the recent price structure and this resistance suggests traders are monitoring for decisive moves. The consolidation between $2.96 and $3.07 highlights the restricted short-term band within which XRP has remained. These boundaries have become important markers, framing both caution and positioning strategies in the market.
Beyond daily and weekly action, the two-month chart has drawn increased attention. XRP closed the full-body near the 50 EMA which may be regarded as an important trend confirmation point. The relocation is a strong indicator of the market over a longer time period, as the longer term momentum is greater than the moving average.
When combined with the short-term support at $2.96 and resistance at $3.07, this broader setup underlines how traders may evaluate upcoming shifts. The alignment between immediate market structure and long-term averages emphasizes the importance of monitoring price interaction at these levels.
