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The price of XRP has risen by about 8% over the past seven days. Earlier this week, the world's first XRP exchange-traded fund was launched in Brazil. Despite the positive momentum, XRP is still confined to a narrow trading range, with key resistance and support levels continuing to define its short-term outlook.
Recent indicators, including a slight rebound in the Relative Strength Index and a bullish Ichimoku cloud structure, suggest cautious optimism.
RSI rebound for XRP: What does it mean for price movements?
The relative strength index for XRP currently stands at 58.36, up from 47.34 earlier today but still below the 77.7 reached four days ago.