XRP Price Dips 1% but Shows Signs of Recovery

XRP has seen a 1% decline over the past 24 hours, trading at $2.1518 at press time, according to TradingView. Despite the short-term drop, the hourly chart reveals a potential recovery as the token bounces from local support at $2.1231. If bullish momentum holds, XRP could push toward the next resistance level within the next 24 hours.

On the daily chart, XRP appears to be in consolidation mode, moving within the range of the previous day’s trading bar. With most of the average daily trading range (ATR) already covered, sharp intraday movements are unlikely in the immediate future. This signals a temporary equilibrium between buyers and sellers, making a breakout in either direction less probable unless fresh catalysts emerge.

Zooming out to the weekly timeframe, XRP remains relatively stable, with no clear reversal signals in play. Market sentiment suggests that if the weekly candle closes near current levels, a retest of the psychological $2.00 support zone could be imminent. This area has acted as a key pivot in recent months and may serve as a critical level for traders to watch moving forward.

Overall, XRP is currently navigating a sideways phase with modest volatility. While short-term upside is possible, caution is advised until a definitive trend emerges. Traders should monitor volume changes and macro market cues for potential directional shifts. XRP remains a closely watched asset amid broader movements in the crypto market.