XRP Price Prediction For March 6
XRP is experiencing fluctuating price action recently. XRP is currently trading at around $2.50, which has dropped sharply after the initial price surge. But now, it’s back to an upward trajectory that hints at a potential bullish trend. The movement shows that XRP is following a slow, steady climb, hoping to develop into a larger upward pattern. Analysts are focusing on the possibility of expanding the bulls running, similar to what happened in 2021.
XRP has soared 375% since the U.S. election. Altcoin has significantly outperformed the broader market as Active XRP wallets grew 620% over the past week.
The market’s fear and greed index is improving to 30, indicating a shift to a more optimistic outlook. Bitcoin’s advantage remains stable at 60%, with an overall market value rising to $3 trillion, and altcoins are also increasing its momentum.
Bearish Difference on 3-Day Chart
According to Josh, an analyst at the crypto world, XRP continues to show bearish divergence over the 3-day timeframe. This suggests that while short-term movements may fluctuate, we should not expect any major bullish momentum to be similar to the rise in November last year.
Short-term support and resistance levels
XRP supports area bounces for keys from $2.25 to $2.30. The next resistance level worth watching is between $2.65 and $2.80, with additional resistances of $3 and $3.20.
RSI indicators and market movements
RSI recently bounced to overbought territory, but has since been retracted and reset. Currently, RSI is neutral, suggesting that the price of XRP may remain within the lateral range in the short term. If Bitcoin and other major altcoins remain neutral, XRP may take some stable price action.
