XRP has seen a notable 8.5% rise over the past seven days, showing signs of recovery after recent price weakness. However, despite the upward movement, the cryptocurrency remains locked within a narrow trading range, bouncing between the support level at $2.11 and resistance near $2.30. This range-bound action signals cautious optimism in the market but also reflects hesitation among traders about the coin’s next move.

XRP Rally Coincides With ETF Introduce in Brazil

Earlier this week, the introduction of the world’s first XRP exchange-traded fund (ETF) in Brazil contributed to renewed interest in the digital asset. The ETF introduction was widely seen as a bullish development, providing investors with a new way to gain exposure to XRP through traditional financial markets.

While this positive news helped boost sentiment, the price of XRP has not yet shown a breakout from its current range. Traders and investors are now watching key technical indicators to assess whether this consolidation will eventually lead to a significant move.

RSI Shows Mild Bullish Momentum

One of the most watched indicators right now is the Relative Strength Index (RSI), which has risen to 58.36. That’s a strong recovery from a low of 47.34 earlier in the day, though still well below the recent peak of 77.7 reached just four days ago.

An RSI value between 50 and 70 suggests mild bullish momentum, but it also means there’s room for the price to move higher without the asset becoming overbought. In technical analysis, an RSI above 70 often signals that an asset may be due for a pullback, while a level below 30 indicates potential for a rebound.

In XRP’s case, the current RSI implies that while buyers are regaining control, there’s no overwhelming momentum just yet. It’s a wait-and-see situation, where continued buying pressure could lead to a breakout — but the opposite remains possible if sentiment shifts.

Ichimoku Cloud Indicates Fragile Bullish Structure

Another indicator supporting cautious optimism is the Ichimoku Cloud, a tool used to assess momentum, trend direction, and support/resistance. Currently, XRP’s price is positioned slightly above the cloud, with the cloud ahead turning green — a sign of potential bullish conditions.

However, the proximity of the Tenkan-sen (blue line) and Kijun-sen (red line) to the current price suggests the uptrend lacks strength. When these lines are close to the candle, it often points to indecision in the market. For now, XRP maintains a bullish bias, but the structure is fragile and could easily shift if momentum weakens.

What Comes Next for XRP?

The price of XRP continues to fluctuate between a support zone at $2.11 and a resistance ceiling at $2.30. If XRP drops below $2.11, it could fall toward the next support level at $2.04, with $1.96 being the next major area to watch if bearish momentum intensifies.

On the flip side, a strong move above $2.30 could open the door to the next resistance level at $2.50. Continued bullish momentum could even push the price further to $2.59 or $2.64.

Conclusion

XRP has shown signs of life, gaining 8.5% this week, but remains confined within a narrow price range. Technical indicators suggest there is mild bullish sentiment, though traders are still cautious. The coming days could be critical in determining whether XRP breaks out of its current consolidation or falls back toward lower support levels. For now, buyers appear to be holding ground—but a decisive move in either direction could shape the short-term trend.