XRP Price Stumbles as Short-Term Holders Take Profits; Strong Rebound Could Be on the Way Soon

XRP's price is having trouble finding a clear direction as the overall market shows mixed signs of volatility. Recently, short-term holders started taking profits

The price of XRP has been struggling to find a clear direction. While short-term holders started booking profits during the price increases, leading to a decline in buying interest, some key indicators are still rising, which could signal a strong rebound soon.

XRP price is currently facing strong bearish pressure above $2.65 as sellers continue to defend a surge. As a result, XRP has been forming multiple higher highs, attempting to break through immediate resistance channels. As of writing, XRP price trades at $2.55, declining over 1.8% in the last 24 hours.

Analysing the 4-hour price chart, the bulls have gained more control by pushing the price above the $2.50 mark. There’s a small hurdle at $2.65, but if XRP can break through that, it could climb to $3, a move that may validate a clear upward trend.

On the other hand, if the price gets rejected at $2.65 and falls below the 100-day EMA (currently at $2.42), it could mean XRP will trade in a sideways range for a while, possibly hovering between $2 and $2.6.