XRP advanced modestly as trading activity increased, although momentum indicators warn of near-term consolidation risk.
News background
- XRP rose 0.60% to $2,623, while trading volume increased around 47% above its seven-day average, indicating increased 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.
Price Action Summary
- During the session, XRP traded in a range of $0.11, oscillating between ~$2.64 and ~$2.62.
- During the failed breakout, a peak volume of ~167.3 million tokens (≈140% above the 24-hour average) was recorded near the $2.68 resistance.
- The $2.60 psychological support level held firm through several tests. This price action reflects controlled accumulation rather than an outright breakout.
Technical analysis
- The breakout attempt above $2.68 was rejected, confirming that resistance remains tough.
- The ~$2.60 support zone has shown resistance, but momentum indicators such as the TD Sequential have triggered cautionary signals.
- The chart structure shows a consolidation between $2.60 and $2.67, which may form the basis of a future move but also warns of a possible short-term pause.
- The increase in volume validates the interest, but the lack of a clear breakout suggests the move is still in preparation mode.
What traders need to know
- Traders should monitor whether XRP can hold the support band between $2.60 and $2.63.
- A sustained close above $2.65, coupled with renewed volume, would tilt the bullish bias and open targets near $2.70-2.90.
- Conversely, a break below ~$2.60 would expose a retest of ~$2.55 or lower.
- The upcoming ETF decision period and institutional capital inflows remain key catalysts to watch.
