XRP's been stuck in sideways motion, unlike Bitcoin that's hit new all-time highs. This lack of significant movement's been frustrating for investors expecting a breakout. Traders are mostly betting against XRP, shown by the dominance of short contracts, indicating a bearish market sentiment.
XRP's Relative Strength Index (RSI) is trending downward, suggesting bearish momentum is gaining. Though the RSI's above neutral, it's a caution signal. Without increased buying action, XRP might just consolidate further or even break down, indicating cautious monitoring from traders.
XRP's been consolidating between $2.73 and $2.00, struggling to break out and set a new ATH. With the current ATH at $3.31, reaching it needs breaking the current range and establishing $2.73 as support, signaling a possible rally.
However, if XRP drops below the crucial $2.00 support, the bullish outlook fails, risking significant losses.
