XRP Price Analysis: Stuck in a Tight Range, Will $2.33 Resistance Hold?

XRPs price performance has remained lackluster since the end of May, trading within a narrow range. 

The token continues to face resistance at $2.33 while finding support around $2.08, suggesting a market caught in a narrow range. Without a clear breakout or breakdown, XRP is consolidating, with no strong momentum in either direction.

On-chain data reflects XRPs sideways price action, pointing to market participants lacking conviction. Per Glassnode, the altcoins Net Unrealized Profit/Loss (NUPL) shows that XRPs investor sentiment has been fluctuating between the OptimismAnxiety and BeliefDenial zones over the past month. 

This trend reflects a divided market: while some traders remain cautiously hopeful, others are skeptical of XRPs near-term potential.

The NUPL metric reflects the difference between an assets current price and the average price at which its coins were last moved. It shows whether holders are, on average, sitting on profits or losses and how significant those are.

When an assets NUPL oscillates between the OptimismAnxiety and BeliefDenial zones, investor sentiment has been indecisive or unstable. Some days, confidence rises (belief), and other days, anxiety creeps back in. 

This back-and-forth movement typically happens during uncertain market phases, where price action is volatile and investors are unsure whether the rally will continue or reverse.

Furthermore, XRPs plunging Average True Range (ATR) confirms the indecision among market participants. At press time, this sits at 0.051.

The ATR indicator measures the degree of price movement over a given period. When it trends downward like this, it often suggests that price fluctuations are narrowing and momentum is weakening.

XRPs fluctuating sentiment and declining volatility reinforce the narrative of a consolidating market. The altcoin is likely to remain range-bound until a catalyst shifts the trend. 

If new demand enters the market, it could trigger a break above the $2.33 resistance level, toward $2.45.

On the other hand, if the bears strengthen their dominance, they could push XRPs price below $2.08 and target $1.96.

Disclaimer

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