• XRP is trading at $2.87 after a 5.2% weekly decline, showing slight recovery in the last 24 hours.
• The token holds short-term support at $2.80 while immediate resistance stands at $2.88.
• RSI sits at 51.18 and MACD remains balanced, indicating neutral short-term market conditions.

XRP (XRP) has posted fresh activity over the latest sessions, with the price bouncing back to $2.87 even after registering a 5.2% fall over the last week. The currency is trading marginally higher within the 24-hour trading range, aided by intraday gains against Bitcoin of 1.8%. Market players are closely observing as the token hovers above its short-term support and approaches resistance levels

XRP Holds Ground Between Key Support and Resistance

The $2.80 level has acted as near-term support, providing a firm base for price action. This support has kept downside action contained in the context of overall market weakness in recent sessions. It is interesting to note that the market bounce was triggered with XRP approaching this base, with a response at a significant level. Moving above this area will remain significant on a near-term basis as traders assess near-term momentum turns.

The focus now targets the level of resistance at $2.88 which forms the high-end point of the existing trading range. The small difference between support and resistance denotes a well-determined structure of markets. Nonetheless, the movement of recovery has brought XRP to an edge of this resistance, which indicates that more testing can be done, in case of momentum. This pressure is verified by the intraday charts since the price levels have been maintained at the upper range by the buyers.

Indicators Signal Neutral Outlook Within Tight Trading Range

Technical indicators contribute to the present setup. RSI reading of 51.38 is a neutral position, reflecting balanced market conditions. Alternatively, MACD lines have been moving close to the zero level, signaling shifts in buying and selling pressures. 

These readings collectively describe a short-term setup where the traders are on the lookout for near-term boundaries. Price action between $2.80 support and $2.88 resistance will be watched to determine the next step. XRP is in a range of support at $2.88 up to resistance at $2.80, with indicators neutral. The short-term direction of the market of the token will be seen by a breakout or a breakdown out of the narrow range.