XRP is currently showing signs of indecision, trading sideways with limited momentum as traders await a clearer signal. Over the past 24 hours, XRP’s trading volume has dropped by 20.37%, now sitting at $2.4 billion—a decline that reflects cooling interest in the short term.

Technical indicators like the RSI and Ichimoku Cloud suggest a neutral trend, with no strong bullish or bearish dominance in play. Price action remains confined between key support and resistance levels, leaving the next breakout direction still uncertain.

Neutral RSI Reading Suggests Caution for XRP Traders

XRP’s Relative Strength Index (RSI) is currently sitting at 46.82, signaling neutral momentum in the market. This neutral zone has persisted since April 7, with no significant shifts into either overbought or oversold territory.

Notably, the RSI was at 57.30 just three days ago, indicating that XRP has experienced a recent decline in buying pressure.

The drop suggests cooling interest or a possible shift in sentiment among traders, as the asset now hovers closer to the midpoint of the RSI scale.

The RSI is a momentum oscillator that measures the speed and magnitude of recent price changes, typically on a scale from 0 to 100.

Readings above 70 often suggest an asset is overbought and could be due for a pullback, while readings below 30 indicate it may be oversold and potentially poised for a bounce. With XRP now at 46.82, the asset is neither overbought nor oversold, implying indecision in the market.

This level, combined with the recent dip from 57.30, may signal growing caution or weakening bullish momentum. It could potentially point to a consolidation phase or slight downward pressure in the short term unless buyers re-enter with conviction.

Ichimoku Indicators Show Indecision in XRP’s Price Action

XRP is currently trading inside the Ichimoku Cloud, reflecting a state of indecision or consolidation.

The Tenkan-sen (blue line) and Kijun-sen (red line) are flat and closely aligned, suggesting weak momentum and a lack of short-term trend direction.

The Senkou Span A and B (the cloud boundaries) are relatively flat as well, which typically indicates that the market is in equilibrium without strong pressure from either buyers or sellers.

The Ichimoku Cloud, or Kumo, helps visualize support, resistance, and trend direction at a glance. When the price is above the cloud, the trend is considered bullish; below it, bearish.

Inside the cloud, as XRP currently is, the trend is neutral, and volatility often contracts. The flatness of the cloud’s leading edges implies a consolidation phase, and the fact that price is not breaking clearly above or below the cloud reinforces the idea of market uncertainty.

For now, the lack of a decisive breakout suggests XRP could remain range-bound until a stronger trend develops.

$2.03 Support and $2.09 Resistance Hold the Key to XRP’s Next Move

XRP price is currently trading within a narrow consolidation range, with key support at $2.03 and resistance at $2.09.

The price action has been relatively muted, but the EMA lines are starting to show signs of potential weakness, as a death cross—where the short-term EMA crosses below the long-term EMA—appears to be forming.

If this bearish crossover confirms and XRP breaks below the $2.03 support, a move down to $1.96 becomes increasingly likely.

A strong continuation of the downtrend could trigger a steeper drop. It could potentially drive the price as low as $1.61 if selling pressure accelerates.

However, there’s still a bullish scenario on the table. If buyers manage to push XRP above the $2.09 resistance, it could open the door for a retest of the $2.17 and $2.35 levels.

This would indicate renewed strength and a shift in momentum in favor of the bulls. Should the rally gain traction beyond these levels, XRP could make a run toward $2.50, marking a significant recovery.

Lorenzo Protocol’s native token, BANK, has recorded a 150% price surge within six hours of its official launch. 

The token’s rapid climb follows its listing on multiple platforms, including Binance’s Alpha Market and the launch of a BANKUSDT perpetual contract on Binance Futures with up to 50x leverage.

What is the New BANK Token on Binance Futures?

The Token Generation Event (TGE) for BANK took place today, April 18, via Binance Wallet, in partnership with PancakeSwap. Lorenzo Protocol raised $200,000 through the sale of 42 million BANK tokens—2% of the total supply—priced at $0.0048 each. 

The token is now trading on PancakeSwap, Bitget, and CoinEx. Following its debut, BANK reached a market cap of approximately $22 million.

BANK is the governance and utility token for Lorenzo Protocol, a DeFi platform focused on enhancing Bitcoin liquidity. 

The protocol allows users to earn yield on BTC without giving up custody. It uses financial primitives like Liquid Principal Tokens (LPTs) and Yield-Accruing Tokens (YATs). 

According to its claims, BANK holders can stake their tokens to receive veBANK, which provides governance rights and a share of future emissions.

Also, Lorenzo Protocol is built on a Cosmos-based Ethermint appchain. It enables BTC restaking and interoperability with Bitcoin’s Layer 1. The design supports on-chain issuance and settlement of BTC-backed assets.

The listing of the BANK/USDT perpetual contract on Binance Futures adds further momentum to the token. Binance Futures is a derivatives platform that allows users to trade perpetual contracts with high leverage. 

Binance has historically preferred new tokens on the BNB chain for early futures trading. BANK’s sharp price increase and rapid market integration highlight strong early interest in Lorenzo Protocol’s approach to BTC-based DeFi infrastructure.

Currently, it’s far-fetched to project whether the exchange will list this newly launched token. However, Binance’s new community voting on token listing has offered positive hopes for small market cap projects.