XRP News Today: XRP Price Holds Above $2.85 Amid Bullish Momentum

XRP price has been holding steady following a strong rally earlier in the month, but there are indications that a short-term cooling period may be on the horizon. The price is currently hovering around $2.92, just below the closely watched $3.00 level. While momentum remains with the bulls, some indicators are flashing warning signals, suggesting an impending pause before further upward movement.

Yesterday's prediction highlighted the key range of $2.85 to $2.95. Reclaiming $2.95 was expected to set XRP up for a retest of the $3.00 level, which is exactly what occurred. XRP price made a push higher but stalled just over $3.00 before pulling back slightly. The prediction also indicated that if $2.75 didn't hold, there could be a fall into the $2.60 area or even $2.35 in a stronger pullback. XRP has remained above $2.85, preserving the bullish setup.

As of July 16, the current price of XRP is $2.919, with a 24-hour change of -1.31%. The 9-day moving average is $2.64, and the trend remains bullish. XRP price is well above its 9-day moving average, which is increasing steadily. While momentum remains strong, the rate of recent growth suggests that a cooling-off period is overdue.

The daily chart shows XRP in a clear uptrend, climbing along a rising trendline that has been in place since April. Recent candles confirm that buyers are still in control. Support is solid around $2.60 to $2.65, near the 9-day SMA and a recent intraday base. If XRP holds this area, another push higher could be seen. However, if it breaks below, $2.35 becomes the next level to watch. On the upside, $3.00 is the immediate resistance. If bulls break through, the next zone to test is $3.20 to $3.25, the highs from March.

Technical indicators on the daily timeframe show that most are pointing to continued momentum. The RSI (14) is at 79.06, indicating an overbought condition and suggesting a short-term pullback could be on the table. The MACD (12,26) is at 0.174, showing bullish upward momentum. The CCI (14) is at 126.80, indicating a strong buy signal. The Ultimate Oscillator is at 60.01, showing a bullish bias. The ROC is at 33.97, indicating a strong buy signal. The Bull/Bear Power is at 0.58, showing that bulls are still in charge.

In the bullish scenario, if XRP closes over $3.00, momentum could carry it to $3.20. Breaking above $2.85 is key to continuing this move. In the neutral scenario, XRP price might trade sideways between $2.75 and $2.95, waiting for the next catalyst. In the bearish scenario, if the price slips below $2.60, there’s room for a dip back to $2.35, especially if other major cryptocurrencies also start dropping.

Overall, XRP price remains firm, but a short-term consolidation following such a sharp move up could be due. As long as the price holds above $2.85, bulls are in charge. All eyes are now on the $3.00 mark; breaking it could see another leg higher. Failing to do so could result in a cooldown.