Over the past seven days, XRP has seen an increase of more than 8%, yet it has struggled to sustain the robust upward trajectory triggered by the SEC's decision to dismiss its lawsuit against Ripple. Following the initial rally, XRP has transitioned into a consolidation phase, where the price movement remains confined between crucial support and resistance levels. Current technical indicators suggest a market that is pausing, with diminishing momentum and no clear direction.

The Relative Strength Index (RSI) for XRP currently stands at 52.89, marking a significant decrease from 63.90 recorded just a day earlier. This rapid decline indicates a waning in recent bullish momentum, as buyers appear to have lost control in the short term. The RSI has moved closer to neutral territory, signaling growing uncertainty among market participants regarding the subsequent course of action.

It is noteworthy that XRP has not reached RSI levels above 70—a threshold commonly linked to overbought and strongly bullish scenarios—since March 19, more than a week ago. This observation points to a lack of substantial buying pressure throughout this period.

RSI, or the Relative Strength Index, is a popular momentum oscillator that evaluates the velocity and magnitude of price changes on a scale ranging from 0 to 100. A reading above 70 usually implies that an asset is overbought and might experience a correction, while a value below 30 suggests it could be oversold and poised for a rebound. Levels between 50 and 70 typically denote bullish momentum, whereas readings between 30 and 50 tend to indicate bearish tendencies.

With XRP positioned at 52.89, it remains above the midpoint but is progressively nearing neutrality, implying that the recent bullish phase might be losing steam unless fresh buying activity emerges.

The Ichimoku Cloud chart for XRP illustrates a market in consolidation, with price action lingering just above the cloud but without robust momentum. The Tenkan-sen and Kijun-sen lines are relatively flat and proximate, reflecting a halt in trend strength and a parity between buyers and sellers. The absence of a distinct Tenkan\/Kijun crossover reinforces the notion that the market is in a neutral state rather than definitively trending in either direction.

The upcoming cloud is narrow and slightly bullish, suggesting that although there is some backing beneath the price, it is not particularly robust. A slim cloud generally signals susceptibility, as it may falter under heightened selling pressure. Concurrently, the Chikou Span (lagging line) is closely engaging with historical price data, another indication of weakening momentum.

In summary, the Ichimoku configuration conveys ambiguity, with XRP requiring a definitive impetus in either direction to break free from this range-bound framework.

XRP underwent a robust surge following the announcement that the SEC had abandoned its case against it. However, this initial drive has since abated.

The price is now ensnared within a resistance zone at $2.47 and support at $2.35, underscoring a phase of consolidation and indecision. Should the current support level be revisited and fail to endure, XRP might encounter amplified selling pressure, potentially leading to a descent toward $2.22. If bearish momentum escalates, a more pronounced plunge towards $1.90 becomes feasible.

Conversely, if buyers reclaim authority and propel the XRP price beyond the $2.47 resistance, the next objectives in this scenario would be $2.59 and $2.749, both of which correspond to earlier zones of rejection. If the uptrend strengthens, XRP could ascend as far as $2.99.

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