XRP trades higher in controlled range-bound action as institutional participation supports accumulation above the $2.38 zone, even as derivatives data points to declining speculative interest.
News background
- XRP advanced modestly during Tuesday’s session, trading between $2.38 and $2.41 while maintaining a narrow $0.05 band.
- The cryptocurrency continued to consolidate above key support despite broader uncertainty, with several intraday rejections near $2.43 resistance highlighting limited momentum.
- Trading volume reached 79.86 million — about 94% above the 24-hour average — during a mid-day retest of support, confirming institutional presence.
- This increase coincided with a rebound from the $2.38 base, suggesting accumulation behavior by major holders as retail participation remained muted.
Summary of price action
- The most active window of the session occurred during midday trading, where sellers briefly drove XRP towards $2.38 before aggressive dip buying reversed losses.
- The subsequent rally to $2.41 restored the previous consolidation structure, leaving the token limited to a 2% intraday range.
- Hourly data shows a mild upward bias, with XRP advancing from $2,397 to $2,405 around 01:47 on increased volume.
- Several higher lows formed along this stretch, supporting the short-term bullish channel, although broader crypto sentiment remained mixed.
Technical Analysis
- XRP’s chart continues to show ascending channel characteristics, with higher lows confirming controlled accumulation.
- The $2.38-$2.39 zone remains important structural support, validated by volume spikes in test periods. Resistance remains concentrated near $2.43, where repeated failures mark the upper limit of the consolidation.
- Derivatives data reveals reduced speculative activity: open interest fell 1.4%, while total trading volume fell 24% day-to-day.
- Funding rates turned slightly negative at -0.0007%, suggesting traders are leaning short. Still, on-chain data shows a 3.36% drop in currency reserves since early October – a historically bullish signal linked to long-term whale accumulation.
What Traders See
- XRP’s ability to sustain above the $2.38 support area keeps the current accumulation thesis intact.
- A confirmed breakout above $2.43-$2.48 would reset momentum and open space towards the $2.65 extension zone. Conversely, failure to defend $2.38 risks a pullback to $1.96 support.
- Traders are closely monitoring volume behavior – another rise near 80M+ on an upside attempt could confirm institutional accumulation and precede a volatility expansion phase.
