Sofi eyes regulatory progress to boost cryptocurrency market. XRP trades at $2.29, with minor volatility and a market cap of $133 billion. Technical charts show consolidation, with upward momentum possibly leading to higher targets. However, caution is advised due to decreasing volume and oscillators suggesting mixed signals.
Sofi is eyeing a significant comeback in the cryptocurrency space after achieving a crucial regulatory breakthrough. The spotlight is currently on XRP, which as of April 29, 2025, was traded at $2.29. This price reflects a market cap of approximately $133 billion, and trading volume over the past day reached about $2.82 billion. Interestingly, XRP has shown minor volatility, swinging between $2.26 and $2.31, which indicates some consolidation trends that could play a role in its price movement.
When looking at the 1-hour chart for XRP, consolidation can be observed closely following a sharp upward movement, with prices lingering between $2.25 and $2.30. The lower trading volume on downward movements suggests that sellers might be running out of steam, possibly paving the way for a short-term bullish setup. An emerging pattern, whether a mild bullish flag or rectangle could lead to a continuation move. Should the price break above $2.30 and successfully retest, this could be the ideal entry for scalpers aiming for a brief rally. However, if XRP drops beneath $2.25, it might indicate a loss of bullish momentum—something to keep an eye on.
On the 4-hour chart, XRP is still consolidating within a well-defined range, bouncing between a support level of $2.26 and resistance at $2.36. Recently, it touched a peak of $2.362 before retreating. Price action is now stabilising around $2.29 to $2.30. There’s been decreasing volume since hitting the peak, which can often signal waning momentum ahead of potential price movement. Breaking beyond the $2.36 resistance with significant volume might just encourage a bullish continuation towards the $2.50 area. Conversely, falling below the crucial support line of $2.26 could disrupt the current consolidation and prompt a possible dip.
Looking at the daily chart, XRP is bouncing back from a previous drop to $1.611, with the asset now forming higher highs and higher lows, indicating a short-term upward trend. Resistance is being tested near the psychological level of $2.50, aligning with other higher priced wicks. A recent uptick in volume at lower prices indicates renewed buying interest. However, a tapering off suggests consolidation or weaker strength. Critical support around $2.10 to $2.20 could present a healthy retest, while rejection near $2.50 might hint at short-term highs. Traders should remain cautious.
Oscillator indicators tell a mixed story for XRP. The relative strength index (RSI) sits at 59.66, revealing neutrality. The Stochastic also mirrors this neutrality, showing 79.42. Notably, the Commodity Channel Index (CCI) reading of 140.97 signals something negative, while the momentum oscillator at 0.19837 reflects selling pressure—contradictory to the otherwise general neutral trend. The Awesome oscillator, with a reading of 0.12944, maintains neutrality. Still, the moving average convergence divergence (MACD) at 0.02937 generates a positive signal. This could indicate bullish momentum if confirmed by subsequent price movements.
When considering moving averages (MAs), the outlook substantially leans bullish for XRP across various periods. The exponential moving averages for multiple periods signal optimism, with current values hovering around $2.21135 for the 10-period and $1.98356 for the 200-period. Simple moving averages are also revealing strong bullish indicators. Yet, caution is warranted, especially with the 100-period SMA clocking in at $2.40872—this signals some potential bearishness.
