XRP is currently trading between a support level of $1.89 and a resistance level of $1.98, as it approaches the weekly close. The cryptocurrency has seen a 1.7% increase in the past 24 hours, reaching $1.92. Despite the selling pressure, buyers are maintaining the price within this narrow range, indicating a potential stabilization after a prolonged downtrend.
The Ichimoku base is being reclaimed, aligning closely with the demand zone, which adds technical significance to the current price level. This area is crucial for determining XRP's short-term direction, as holding above the base could lead to an upside continuation, while losing it might result in further downside tests below $1.89. Market participants are closely watching the price behavior around this support cluster, as it will provide clarity on the next significant move.
XRP Consolidates Between Key Support and Resistance Levels
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