- XRP forms higher highs with rising volume across key timeframes.
- RSI nears overbought, but price action still supports further gains.
XRP extended its bullish run on May 10, maintaining upward momentum across multiple timeframes. At press time, the daily chart shows that the asset closed at $2.46835, marking a 5.31% gain.Â
RSI indicators suggest increasing strength but signal a potential for near-term consolidation. Analysts are watching closely as XRP approaches key resistance levels, especially near the $2.50 mark.
Hourly Chart Shows Steady Bullish Momentum
XRP steadily climbed during the May 10 hourly session, closing at $2.46537. According to TradingView data, the asset rose by 0.67% in that hour, fluctuating between $2.44659 and $2.47230. The chart reflects higher lows since May 7, indicating consistent bullish pressure.
The Relative Strength Index (RSI 14) on the hourly chart stood at 74.42, with a moving average of 65.57. This positions XRP in overbought territory, often a signal of potential short-term consolidation. Trading volume reached 248.3K, showing active buyer participation.
Technical analysts highlighted the sustained push above $2.40 and the formation of higher highs. A clean break above $2.47 could pave the way for XRP to challenge the next resistance at $2.50.
4-Hour Trend Confirms Breakout Strength
On the 4-hour chart, XRP reached $2.46870, gaining 2.01% within the session. It traded between a low of $2.40679 and a high of $2.47230. Market data pointed to increasing demand, with strong bullish candles forming throughout the timeframe. Volume recorded at 849.06K further confirmed growing market engagement.
The RSI 14 rose to 75.52, remaining above the moving average of 70.24. While the reading indicates overbought conditions, it also underlines sustained buying pressure.
Analysts noted that XRP had cleanly broken above the $2.40 level, extending gains from a May 6 reversal. They added that if the momentum holds, the $2.50 resistance zone could come into play soon. However, they also warned of a possible short-term pullback due to current RSI levels.
Daily RSI Nears Overbought but Trend Remains Intact
XRP closed the May 10 daily session at $2.46835, after rising from an intraday low of $2.33631. The 5.31% increase followed a previous consolidation phase and suggested a renewed bullish trend. TradingView data showed daily volume reached 4.89 million, indicating robust market participation.
The daily RSI stood at 68.64, nearing the overbought threshold of 70. While the RSI was still in neutral territory, it remained above its moving average of 54.64.
Analysts interpreted this as a sign of continued bullish momentum, though some caution for potential exhaustion remains. Price action also confirmed a breakout above prior resistance at $2.30, with strong candle formations supporting the rally.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
