XRP Uptrend Remains Strong—Is XRP Ready for the Next Surge?

XRP has shown a strong recovery in recent days, with prices having climbed to between $$2.37 and $$2.42 in the past hour, reflecting a gain of $17% in 24 hours.

CONSOLIDATION PHASE OR END OF RALLY?
XRP at a critical crossroads

XRP’s upward momentum has pushed it close to a critical resistance area at $2.65, with short-term oscillators and moving averages (MAs) providing traders with a mixed signal.

XRP 4-hour chart, December 11, 2024.

On the 4-hour chart, XRP rebounded strongly from the low of $1.898 on December 10, driven by strong buying. While it consolidated around $2.40, the volume weakened, indicating that the rebound momentum has temporarily stalled. Key exponential moving averages (EMA) such as 20 ($2.04978) and 30 ($1.80879) still provide support, while the 10-period simple moving average (SMA) ($2.45043) signals near-term selling pressure.

XRP 1-hour chart, December 11, 2024.

The 1-hour chart shows that XRP has been making higher lows since the $1.898 bottom, and a resistance range has been formed between $2.474 and $2.50. The relative strength index (RSI) is 65.35307, which is in neutral territory, indicating that a breakout or retracement may occur. The momentum and moving average convergence/divergence indicator (MACD) show cautious signals, both of which suggest a sell signal.

XRP daily chart, December 11, 2024.

On the daily timeframe, XRP continues to present a bullish pattern despite facing resistance at $2.65. The rebound from the low of $0.5141 to $2.909 formed a higher low at $1.898, confirming the overall uptrend. Key exponential moving averages (EMAs) such as the 200-period ($0.85717) and 100-period ($1.10811) further solidify the bullish basis for XRP. However, the decline in volume during the recent rally suggests a weakening of momentum. The Commodity Channel Index (CCI) at 56.48218 and the Strong Oscillator (AO) at 0.85351 both remain neutral, adding to the confusion of market signals. A break above $2.65 could target $2.90, but a break below $2.10 could threaten further downside.

Oscillators are neutral overall, with key indicators such as the Stochastic at 63.48869 and the Average Directional Index (ADX) at 63.99980, showing no strong bullish or bearish bias.

The moving averages show the strength of the medium- to long-term trend, with the 20- to 200-period EMAs all giving significant buy signals.

**Bullish call:**
If XRP manages to break above the resistance at $2.65 on strong volume and sustains higher lows, the uptrend could accelerate with targets at $2.90 and above. The bullish signals in the long-term exponential moving averages (EMAs) and the unbroken uptrend on the daily chart provide a favorable backdrop for further gains.

BEARISH CALL:
If it fails to break through $2.65, and the volume weakens and the oscillators remain neutral, XRP may retrace to the key support level of $2.2 or even $1.898. If it falls below $2.10, a deeper correction may occur, challenging the bullish sentiment.