XRP Holds Strong Above Key Support as Market Cap Swings Amid Global Tensions
Despite global economic headwinds and ongoing capital outflows, XRP is showing signs of resilience, maintaining strength above critical support levels while weathering nearly $4 billion in market cap fluctuations.
The asset’s market capitalization fell from $137.5 billion to a low of $133.39 billion before rebounding to $135.86 billion, underscoring the heightened volatility facing crypto markets amid global trade uncertainty.
Still, XRP has managed to stay above its 50-day simple moving average (SMA) at $2.26 — a key technical benchmark that signals continued bullish structure in the medium term.
Technical Analysis Overview
- Price Action: XRP traded within a 24-hour range of $2.275 to $2.356, a 3.56% spread.
- Initial Support Volume: A surge in trading volume to 71.18M at the $2.275 level around 1:00 AM on May 27 helped establish a solid support base.
- Consolidation Phase: The hours following the early buying saw consolidation, indicating accumulation before a renewed push upward.
- Secondary Volume Spike: A fresh influx of volume at 1:00 PM — peaking at 74.36M — drove prices back toward the top of the day’s range.
- Resistance Zone: Key resistance remains at the $2.355–$2.356 level.
- Support Range: Strong support has been confirmed in the $2.275–$2.290 zone.
- Short-Term Volatility: A sharp rally between 1:08 PM and 1:18 PM pushed the price from $2.330 to $2.356.
- Volume Confirmation: A significant spike of 6.28M in volume at 1:13 PM validated the upward momentum.
- Retracement Support: A brief correction found footing at $2.324 around 1:51 PM before bouncing back.
- Trend Structure: The emergence of a rising channel with higher lows points to sustained bullish momentum.
In summary, XRP continues to show technical strength despite broader market uncertainty. Traders will be watching closely to see if bullish momentum can break the $2.356 resistance and extend the uptrend.
