XRP Price Shows Market Indecision But RSI Indicates Balanced Momentum

XRP's price has been relatively stable in the past week, indicating uncertainty in the market. Despite a 15% decline over the last month, its Relative Strength Index (RSI) currently stands at 55.1, signaling balanced momentum after bouncing back from near-oversold levels.

The number of XRP whale addresses has seen a recent decline, suggesting caution among major holders. However, the figures remain historically high, indicating sustained interest in the cryptocurrency. XRP may face resistance at $2.83 or test support at $2.52 if selling pressure increases.

The RSI for XRP is currently neutral, showing a recovery from almost oversold levels. It has decreased from a peak of 62, indicating that buying momentum has slightly cooled off, placing XRP in a balanced zone.

Whale addresses holding between 1 million and 10 million XRP have decreased from 2,137 to 2,117 since February 3. Despite this decline, the number of whales is still above historical averages, suggesting continued involvement from significant investors.

XRP's price direction remains uncertain, with the Exponential Moving Average lines closely grouped together. This lack of clear momentum reflects market indecision, making it unclear whether an uptrend or downtrend will ensue.

If XRP sees an uptrend, it could target the resistance at $2.83, potentially reaching levels of $3.15 or $3.28. Conversely, a downtrend could test crucial support at $2.52, with a possible drop to $2.33 or even $1.77 if selling pressure persists.