XRP Traded at $2.43 Today with a Market Capitalization of $142 Billion and a 24-Hour Trading Volume of $3.754 Billion

XRPC traded at $2.43 today with a market capitalization of $142 billion and a 24-hour trading volume of $3.754 billion. The intraday price range fluctuated

The cryptocurrency market continues to trade in anticipation of the upcoming U.S. inflation figures, which could offer valuable insights into the Federal Reserve's stance on interest rates.

As of 07:15 ET (11:15 GMT), the world’s second-largest cryptocurrency traded at $2.43, showcasing a 24-hour price range of $2.35 to $2.45.

As the asset trades near local highs, technical analysts are closely following any signs of breakout or breakdown.

On the 1-hour chart, XRP is engaged in minor consolidation just beneath the $2.45 resistance. The structure supports a bullish microtrend that advanced from $2.33 to $2.45, highlighted by a volume spike during a recent red candle, which may indicate a shakeout. Traders may prefer a pullback toward the $2.38 to $2.40 zone—accompanied by bullish candlestick patterns—as a potential entry point.

On the 4-hour chart, there is a more structured recovery following a bottom near $2.28. The price action is forming a potential ascending triangle, a classically bullish pattern, with multiple tests of the $2.44 resistance area. A breakout above $2.45 and confirmation with a retest would likely trigger a continuation of the upward trajectory. However, a failure to stay above $2.45 and a drop below $2.36 could lead to a retest of the $2.88 support.

From a broader daily perspective, XRP’s price action shows a strong rally from approximately $1.61 to $2.656, followed by a consolidation phase forming what resembles a bullish flag or pennant. Volume increased significantly during the rally but has since decreased during the consolidation, which is common in continuation patterns.

Oscillators currently show a predominantly neutral stance across various indicators. The relative strength index (RSI) at 56.50687, stochastic %k at 45.18296, commodity channel index (CCI) at 48.17675, and average directional index (ADX) at 17.97099 all signal a lack of decisive momentum. The awesome oscillator issues a buy signal at 0.10239, but this is countered by sell indications from the momentum indicator at −0.11690 and the moving average convergence divergence (MACD) level at 0.05354, reflecting underlying market indecision.

In contrast, moving averages present a strongly bullish bias. The exponential moving averages (EMA) and simple moving averages (SMA) for 10-, 20-, 30-, 50-, 100-, and 200-period spans all issue buy signals. This widespread alignment suggests that despite short-term oscillatory hesitance, the medium- and long-term trend remains upward, reinforcing the case for a potential breakout pending favorable volume and market sentiment.