XRP posts a modest gain amid a clear rebound in trading activity, suggesting pro positioning ahead of critical resistance zones.
News background
- XRP rose 0.7% in the last 24 hours, closing near $2.43, as volume increased 12% above its weekly average. The moderate price action comes as broader crypto markets consolidate following bitcoin’s continued rise and stock volatility decline.
- Analysts said the surge in XRP trading reflects renewed institutional flows ahead of pending SEC ETF decisions and Ripple’s ongoing capital raise.
- Despite the limited advance, traders noted that volume-driven accumulation phases often precede directional expansion, particularly when price holds firm under resistance.
Price Action Summary
- The token traded within a $0.13 band between $2.41 and $2.54 during the October 21-22 session, testing intraday highs before returning to consolidation.
- Volume reached 155.8 million tokens, well above the seven-day average, confirming significant participation at current price levels.
- Peak activity occurred between 14:00 and 16:00 GMT, coinciding with institutional trading hours, where large buy orders lifted XRP above the $2.42 threshold and set higher lows near $2.40.
- The price stabilized in the area of $2.41 to $2.43 until the close, forming a narrow base that traders interpret as preparatory accumulation.
Technical analysis
- The short-term structure remains constructive. A series of higher lows from the $2.40 base and repeated defenses of the $2.41 to $2.42 support corridor underscore continued demand.
- Resistance lies near $2.45 and then $2.50, the upper limit of the recent range.
- Volume expansion amid moderate price gains typically reflects institutional consolidation, although failure to break above $2.45 could trigger a short-term pullback towards $2.40.
- The RSI readings are positioned near neutral, suggesting room for continuation if buyers remain committed above $2.42.
What traders are watching
• If the $2.42 floor continues to attract institutional offers.
• Possible break between $2.45 and $2.50 to confirm bullish continuation.
• ETF-related developments or Ripple fundraising updates as sentiment catalysts.
• Broader tone across assets: Bitcoin’s rise and gold’s weakness remain key directional signals.
