XRP price continues its short-term upward trend, rising 4.23% in a day to record $3.1810 (approximately 4,422 won). As the cryptocurrency market generally shifts to a 'bullish market', XRP is also participating in the strong trend. However, with major resistance levels ahead in technical analysis, there are still reservations about further potential increases.
On the 1-hour chart, XRP is trading near the $3.21 (approximately 4,460 won) level, and if buying pressure continues, it could potentially break through this level and expand to $3.30 (approximately 4,587 won). This could serve as an important psychological threshold for short-term investors. However, it should be noted that after a short-term surge, prices could be pulled back to the $3.10 (approximately 4,309 won) level if a correction occurs.
On the daily chart, the movement is somewhat subdued. If the candle closes below the current price, it is expected to continue sideways within the 3.10-3.30 dollar box range without a clear trend reversal. The decrease in trading volume also supports this possibility. Experts analyze that while this period may be somewhat tedious, it could serve as a stepping stone for the next rise or fall.
In the medium term, neither selling nor buying pressure is gaining dominance. With distance from major support or resistance levels, the possibility of significant price fluctuations is low. According to TradingView analysis, limited volatility and cautious investment sentiment are expected to dominate the market for the time being.
The future direction of XRP price can be significantly influenced by overall market liquidity and macro environment, especially regulatory news in the US or support from major exchanges. Short-term traders need to carefully examine technical indicators and trading volume and approach with caution.
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