XRP edged lower during a volatile session, but the decline came alongside sharply increased volume – a signal that major players were active, even as the price struggled to hold key technical levels.
News background
- Crypto markets swung sharply on Thursday following a softer-than-expected US CPI print, which briefly lifted bitcoin above $89,000 during US hours.
- That move quickly faded, however, with crypto once again lagging stocks, which remained strongly positive on the day.
- The swift reversal reinforced a pattern that has become familiar in recent weeks: macro-driven rallies in crypto struggling to maintain momentum as positioning thins and sellers reassert control.
- Against that backdrop, XRP remained under pressure after failing to regain the $2.00 area earlier this month – a level many analysts consider a structural turning point.
Technical analysis
XRP continues to trade below its key moving averages, with the loss of the $1.93-$2.00 zone keeping the broader structure to the downside. Previous support near $1.93 has now turned to resistance, which is in line with key Fibonacci retracement levels and capping rebound attempts.
While daily momentum indicators are showing early signs of stabilization – including a developing bullish RSI divergence flagged by several technicians – price has yet to confirm this signal. Until XRP can regain traction above near-term resistance, rallies remain vulnerable to renewed selling.
Price action overview
XRP fell 1.2% to $1.84 during the session, trading above a wide $0.10 range, or about 5.4%. The price initially rallied from support near $1.84 before rising to $1.93 on strong volume, only to reverse sharply as sell orders appeared in resistance.
Trading volume jumped as much as 147% above its 24-hour average during the afternoon sell-off, peaking near 155 million tokens as XRP slipped back towards session lows. The heaviest activity clustered near the highs and during the subsequent crash, suggesting distribution rather than panic-driven liquidation.
Late session trading saw XRP stabilize just above $1.84, but bids remained thin and follow-on buying was limited as the token closed below all major short- and medium-term trend markers.
What traders should know
- Support: $1.84 is the immediate level to watch, with deeper support near $1.73 and macro support around $1.64
- Resistance: $1.93 remains the first major ceiling, followed by $1.98 and the $2.00 psychological zone
- Volume signal: Increased activity without upward continuation points to positioning and distribution
- Bias: Caution while below $1.93; technical assistance rallies must be confirmed
Until XRP can regain previous support with sustained acceptance, price action suggests consolidation or further downside remains more likely than a pure reversal – although momentum indicators suggest selling pressure may ease.
