XRP showed buying pressure Monday as it climbed above the 50-day simple moving average ($2.24), though sellers immediately rejected higher levels, leaving the $2.35 resistance clearly intact. Trading momentum intensified late Tuesday during Asian sessions.
Market Watch
Analysis indicates ongoing consolidation in the $2.00 – $2.40 band. The 20-day EMA ($2.17) remains a crucial short-term pivot point. A confirmed bounce near this support could escalate the rally target towards the $2.35 psychological barrier and beyond.
Market sentiment is waiting for clarity regarding ETF developments.
ETF Outlook
According to Bloomberg analysis by Eric Balchunas and James Seyffart, approval odds for XRP, Solana, and Litecoin ETFs stand at approximately 95% for 2025. A positive resolution could significantly boost institutional participation.
Simultaneously, the prolonged sideways movement near $2.35 presents a classic consolidation pattern, potentially acting as the market’s pause before the next directional decision.”
On the technical front, the 4-hour chart reveals substantial resistance at $2.35 with the 50-SMA providing foundational support at $2.00. Breakdown below $2.00 would expose the $2.00 level as a primary support zone.
If bulls successfully reclaim the 50-SMA, their sights shift to the neckline of the inverse head-and-shoulders pattern. Successful penetration of this level would signal renewed upside momentum targeting $2.76.
Disclaimer
This analysis represents market commentary, not investment advice. Cryptocurrency trading carries substantial risk, potentially resulting in complete capital loss. Conduct independent research before making investment decisions.
