XRP rose 6% as bitcoin neared the $67,000 mark in US morning hours on Wednesday, with data from one exchange showing spot buyers outnumbering sellers by more than 200%.
News background
- Long-time XRP supporter and exchange Bitrue told CoinDesk that it observed a sharp increase in XRP spot activity between the 23rd-24th. February, when retail buying volume increased 212% and exceeded sell orders by more than two-to-one.
- The spike coincides with what some traders describe as a quiet accumulation phase after recent volatility.
- The institutional positioning also appears constructive. Since launching in mid-November, XRP exchange-traded funds have attracted around $1.1 billion in net assets, seeing positive weekly inflows with only limited outflow days.
- That contrasts with bitcoin ETFs, which have declined year-to-date, suggesting potential capital rotation within crypto allocations rather than broad-based exit.
- Spot traders also realized nearly $1.93 billion in losses during the mid-February drawdown, Bitrue said, a shakeout that has historically preceded stronger recoveries when speculative leverage disappears.
Summary of price action
- XRP rose from $1.34 to $1.42, up about 6%
- Break above $1.37 triggered volume surge to 259 million, more than double the daily average
- Price consolidated near $1.42 after testing $1.43
Technical Analysis
- The decisive move came with the sustained break above $1.37 resistance. Volume expansion confirmed participation beyond thin liquidity conditions, with the price making higher lows throughout the session.
- The short-term structure remains constructive while XRP holds above $1.40. However, the overhead supply near $1.45 remains an important test.
- Failure to sustain current levels would shift focus back to the $1.37 breakout zone as first support.
What do traders say is next?
- Traders are watching to see if the $1.40-$1.42 zone can hold as a new base. A push above $1.45 would open up space towards $1.50 and potentially $1.57.
- If momentum fades and XRP falls back below $1.37, the breakout risks turning into a false move that reopens the previous consolidation range.
- So far, elevated volume combined with spot-heavy buying suggests that positioning is on the mend – but confirmation depends on follow-through above resistance.
