The XRP price trades within a narrow range below $ 2.5, which has now become one of the important levels to reverse the current trend. This seems to have decreased the importance of the investor in the token, because the token has not shown a big price action. Moreover, the volume has fallen sharply from the levels above $ 4 billion to the levels of around $ 2 billion, which substantiates the bearish claim. However, a number of catalysts are expected to improve volatility, which would probably be able to push the price above the accumulated range.
In addition to a potential XRP ETF, the Stablecoin of the platform, RLUSD, gains more ground after the US government has unveiled the Genius Act to legalize its use. On the other hand, XRP slowly challenges the dominance of Swift with immediate control and cheaper transaction costs. In a recent development, the Dubai government has chosen the XRP whides to promote its real estateization project, which aims to digitize $ 16 billion in ownership assets by 2033. This is supposed to significantly speed up regular acceptance.
So what’s in store for the XRP price prior to the monthly closure?
As can be seen in the graph above, the XRP price is stuck under the falling trend line, which pushed the token lower. In the meantime, failure of the price to rise above the local resistance at $ 2.5 has also negatively influenced the rally. After a consolidation of 6 months, the price seems to have been reconsolidated before he marches to new highlights. Reclaiming the 200-day EMA and maintaining a successive higher high shows the growing power of the bulls. Until the price breaks the trend line and the crucial resistance zone reaches around $ 2.8 via $ 2.5 resistance, the accumulation can have the upright.
The RSI remains glued along the neutral range, while the MACD indicates the sales pressure that continues to exist over the rally. However, the levels remain within the positive reach that keeps the bullish hope alive. That is why the XRP price is required to break and support it above the $ 2.5 resistance zone without experiencing a rejection that can pave the way for new highlights for $ 4. Otherwise it can continue to extend the horizontal consolidation.