After breaking below $1.80 on January 1, Ripple (XRP) is currently trading around $2.00 on the daily chart as the broader crypto market shows signs of a New Year recovery. The asset is now moving in a consolidation phase following a steady decline from earlier highs. The latest daily candle reflects a narrow range, suggesting that both buyers and sellers are cautious at these levels.
During the session, XRP opened near $2.0068, moved to a high of $2.0561, dipped to a low of $1.89, and is trading close to $2 at the time of observation. This price behaviour highlights a tight trading zone, with the market struggling to build strong momentum in either direction.
XRP Enters Wait-and-Watch Phase as Market Seeks Balance
From a broader price structure perspective, XRP continues to trade in a gradual descending channel, marked by lower highs since October. However, recent candles show reduced downside pressure, indicating that selling strength may be weakening for now.
Zooming in, XRP remains below its key daily averages, keeping the broader trend under pressure. The 20-day EMA is positioned around $2.08, acting as immediate resistance, while the 50-day moving average sits higher near the $2.20–$2.14 zone. Further overhead resistance is seen around the 100-day and 200-day averages, which are clustered between $2.38 and $2.47. Short-term averages have begun to flatten near the current price, suggesting selling pressure has eased, but a clear trend shift has not yet formed.
The Relative Strength Index (RSI 14) is currently around 55.46, placing XRP in neutral territory. This reading shows that the asset is neither overbought nor oversold, reinforcing the idea of consolidation rather than an immediate breakout. The RSI moving average is still below the RSI line, which slightly favours buyers, but the signal remains modest.
The MACD indicator is showing early signs of improvement. The histogram has turned mildly positive, while the MACD line is gradually moving closer to a bullish crossover. Although momentum remains limited, this shift suggests that bearish pressure is easing compared to previous weeks.
Key Breakout or Breakdown Levels to Watch
In terms of support and resistance, immediate support is seen near $1.95, which aligns with recent daily lows. A stronger support zone lies closer to $1.80, where price previously found demand. On the upside, XRP faces resistance around $2.05, followed by a broader resistance area near $2.20, where selling activity increased in earlier sessions.
A sustained move above $2.05 could open the door for a short-term recovery, while a breakdown below $1.95 may invite renewed selling pressure toward lower support zones.
Overall, XRP is currently in a wait-and-watch phase, with technical indicators pointing to stabilization rather than a clear trend. The market appears to be building balance after a prolonged decline. Also, a decisive move is likely to depend on whether buyers can defend key support levels in the coming sessions.
