• XRP shows strong bullish momentum, with rising trading activity and renewed investor confidence driving the rebound.
• Despite weekly losses, traders remain cautiously optimistic as short-term recovery builds amid market volatility.
• Analysts highlight $2.70 resistance; RSI and MACD readings indicate a weakening bearish trend and possible bullish shift.

Ripple (XRP) is currently trading at $2.62, with a significant increase of 9.26% in the last 24 hours. The trading volume continues to increase by 24.23% and is now standing at $10.25 billion, which is an indication of good market participation. This positive trend shows a revival of investor confidence and increasing bullishness around the asset.

Source: CoinMarketCap

The weekly performance of XRP is under pressure, with a decline of 12.14%, even though the recovery has been dramatic daily. The two divergent trends suggest a market that is still dealing with volatility and evolving sentiment. It seems that traders are performing a balancing exercise between optimism about short-term benefits and the potential for wider market instability.

XRP Faces Key Resistance at $2.70

Crypto analyst CW highlighted the significant resistance point of around $2.70, indicating a substantial sell wall that might restrict the short-term gains of XRP. Analysts further noted that a prolonged close above this mark is critical toward asserting the unrelented bullish energy. 

The absence of the necessary volume could result in the asset being rejected and subsequently consolidating before attempting another breakout. His perspective highlights the technical significance of the $2.70 range within the XRP short-term structure.

Source: X

Additionally, another analyst, CryptoWZRD, mentioned that XRP ended its last session bullish, whereas XRPBTC also gave a bullish indication. The setup of XRP would further be strengthened by a decrease in Bitcoin dominance (BTC.D). He noted that intraday charts provide scalp opportunities when the buying pressure is continued into the subsequent trading period.

Source: X

Also Read: SUI Rebounds Strongly, Eyes Explosive $5 Breakout Soon

RSI and MACD Suggest Potential Bullish Crossover

The Relative Strength Index (RSI) is currently at 41.48, indicating that it is leaving the oversold zone but not yet in the neutral area. Moving Average Convergence Divergence (MACD) indicates that there is a MACD line of -0.043544 and a signal line of -0.05549. The tightening of the spread implies weakening bearish momentum and a possible crossover provided that buying persists.

Source: TradingView

Trading Volume and Open Interest Rise Steadily

CoinGlass data showed that the trading volume rose by 32.85% to $11.84 billion. Open Interest is also increasing by 8.14% to $4.44 billion. The OI-weighted funding rate is a bit negative, standing at -0.0005%, with no notable leverage and constant trader sentiment. These numbers prove that the action is not growing too speculative.

Source: CoinGlass

Nonetheless, the recovery period for Ripple is promising. Momentum is weak, yet as long as bulls are able to maintain high pressure at levels above $2.70, then XRP stands to get better ground to build additional gains in subsequent sessions.

Also Read: Ethereum Price Rebounds, Could Bulls Push It to $7,000 Soon?