XRP advanced modestly as trading activity picked up, although momentum indicators warn of near-term consolidation risk.
News background
- XRP rose 0.60% to $2,623, while trading volume rose about 47% above its seven-day moving average, indicating heightened institutional interest amid a lack of strong breakout catalysts.
- The token still faces resistance from a rejection near $2.68, and several analysts warn that while bullish chart patterns exist, recent momentum may be limited.
Summary of price action
- During the session, XRP traded in a $0.11 range, fluctuating between ~$2.64 and ~$2.62.
- A peak volume of ~167.3 million tokens (≈140% above the 24-hour average) was recorded during the failed breakout near $2.68 resistance.
- The $2.60 psychological support level held firm through several tests. This price action reflects controlled accumulation rather than a full breakout run.
Technical Analysis
- The breakout attempt above $2.68 was rejected, confirming that resistance remains tough.
- The ~$2.60 support zone has shown resilience, yet momentum indicators – such as the TD Sequential – have triggered cautionary signals.
- The chart structure shows consolidation between $2.60 and $2.67, which could form the basis for a future move, but also warns of possible short-term pause.
- Volume increase validates the interest, but the lack of a clean breakout suggests the move is still in setup mode.
What traders should know
- Traders should monitor whether XRP can hold the support band around $2.60-$2.63.
- A sustained close above $2.65 combined with renewed volume would tilt the bias bullish and open targets near $2.70-$2.90.
- Conversely, a break below ~$2.60 would reveal a retest of ~$2.55 or lower.
- The upcoming ETF decision window and institutional inflows remain key catalysts to watch.
