XRP Steadies Near $2.63 as Exchange Reserves Fall, Hinting at Renewed Accumulation
Market Overview
XRP edged 0.89% higher to $2.63 on Tuesday, supported by a 26% surge in trading volume above weekly averages — a sign of rising participation from traders and institutions positioning ahead of potential market catalysts. The move came as broader crypto markets remained in a tight consolidation phase, awaiting a breakout trigger.
On-chain data added a bullish undertone, showing a 3.36% decline in XRP exchange reserves since early October — a historical signal that suggests accumulation and reduced sell-side supply.
Price Dynamics
Throughout the session, XRP traded in a narrow $0.087 band between $2.568 and $2.655, forming several higher lows but struggling to clear resistance around $2.70. Trading activity spiked to roughly 101.6 million tokens during a brief breakout attempt near 16:00 UTC, though momentum faded shortly after.
A quick drop below $2.635 triggered a flash dip to $2.632 before a modest recovery, highlighting the ongoing tug-of-war between bulls and bears near short-term support.
Technical Picture
XRP remains range-bound, with firm support near $2.614 and overhead resistance around $2.70. The increase in volume aligns with an accumulation pattern, though the temporary breach of $2.635 introduces near-term volatility risk.
Momentum indicators are neutral to slightly positive, with RSI stable and MACD yet to confirm bullish crossover, pointing to a coiling market awaiting a breakout trigger.
Outlook
Traders should focus on whether support between $2.61–$2.63 can hold through midweek. A bounce from this region, backed by steady volume, could confirm a bullish continuation and pave the way for a move above $2.70.
Conversely, a failure to maintain this support could lead to a retest of $2.60 or $2.55. Despite short-term uncertainty, the decline in exchange reserves and strengthening volume trends continue to favor a constructive bias for XRP’s near-term trajectory.
