Institutional buyers have returned following a sharp sell-off, helping XRP establish strong support at crucial price levels.
Amid ongoing global economic tensions and evolving regulatory landscapes, XRP continues to demonstrate notable resilience despite recent bouts of volatility.
After dropping sharply to $2.307 on heavy trading volume, XRP has embarked on an upward path marked by a series of higher lows, signaling sustained buying interest as it nears key resistance zones.
Technical indicators suggest a possible bullish breakout ahead, with analysts emphasizing the importance of holding support between $2.35 and $2.40 to maintain upward momentum.
Technical Analysis Highlights
- XRP’s price fluctuated within a 3.76% range ($2.307 to $2.396) over the past 24 hours, with a steep sell-off at 16:00 pushing the price down to $2.307 on heavy volume of 77.9 million.
- Buyers stepped in strongly around the $2.32 support level, particularly during a high-volume recovery phase between 13:00 and 14:00.
- The asset is following an upward trend, forming higher lows from the bottom, with resistance tested near $2.39 during the early 07:00 session.
- In the last hour, XRP rose from $2.358 to $2.368, gaining 0.42%, accompanied by volume spikes at 01:52 and 01:55.
- The price broke through resistance at $2.36 to reach $2.366, later hitting new local highs at $2.369 around 02:03 on strong volume (539,987).
- XRP currently holds above the $2.368 support level, with decreasing volatility suggesting a likely continuation of the upward trend.
