XRP Price Grinds Against Resistance as Momentum Stalls

XRP's price is stuck at $1.42, struggling to break through its short-term resistance of $1.46. The momentum indicators are flatlined, with a MACD histogram that has printed zero and an RSI of 68.82, which is close to overbought territory.

Caroline Bishop notes in the source article that when these conditions converge, it creates a distribution zone forming in real-time. This means that XRP's price may be due for a breakout or breakdown.

Despite being comfortably above its 50-day and 200-day SMAs, XRP is facing near-term pressure from its resistance level at $1.46. A clean daily close above this level could trigger a run towards the upper Bollinger Band at $1.63.

However, positioning data reveals an overwhelmingly one-sided market, with retail and top traders heavily long on XRP. This has led to a potential setup for a long squeeze if a catalyst turns the tape even mildly bearish.