XRP Price Stuck in Tight Range as Market Participants Wait for Catalyst

XRP's price has been stuck in a tight range near $1.10 as market participants wait for a catalyst to break out of its sideways trading pattern.

The cryptocurrency's daily 50-day moving average is at $1.16, and a push above this level could attract attention toward the daily 200-day moving average at $1.45.

A golden cross has formed on XRP's four-hour chart, with the 50-period moving average climbing above the 200-period moving average, but analysts remain cautious due to weak XRP Ledger activity and low new wallet creation.