XRP’s Consolidation Phase Persists Amid Strong Fundamentals

The price of XRP has been trading in a tight range for several days, hovering around the psychologically significant $2.00 level. Despite three consecutive days of losses, the asset is demonstrating notable fundamental strength, creating a complex market narrative. Key developments include Ripple securing a pivotal banking license, the launch of wrapped XRP on multiple blockchains, and consistent inflows into spot ETFs.

Currently trading near $2.04, XRP’s price action has been largely stagnant. The consolidation is occurring around the 50% Fibonacci retracement level, with an ascending triangle pattern forming on the charts. The Relative Strength Index (RSI) sits at 42, indicating a market that is neither overbought nor oversold. The Moving Average Convergence Divergence Read more...