XRP Stuck in Trading Range as Buyers Fail to Break Resistance

XRP remains stuck in a narrow trading range as buyers try to gain momentum. At press time, XRP traded at $1.10, up 1.46% in the past 24 hours with a daily trading volume of $881.89 million and market capitalization standing at $68.85 billion.

According to technical analyst ChartNerd, key moving averages are acting as resistance for XRP's price action. The daily 50 EMA at $1.14 has repeatedly halted attempts by buyers to push the price higher.

ChartNerd emphasized that surpassing this level would still leave resistance at $1.25 and a tougher barrier at the weekly 50 EMA around $1.60, which holds greater significance for long-term trend confirmation.

The Relative Strength Index (RSI) stands at 47.85, just below the neutral 50-level, implying balanced pressures in the market. The Moving Average Convergence Divergence (MACD) revealed a slight negative bias, but the histogram turned positive, suggesting weakening selling momentum.