XRP traded in a range on Monday, gaining 2.75% to $2.34, while underperforming the broader crypto market amid moderate participation. The move reflected cautious accumulation rather than broad conviction, as trading volumes remained below trend despite multiple spikes in volatility during the session.
News background
- XRP rose 2.75% to $2.34 over the 24-hour period, but lagged the CD5 index by about 2.5%, highlighting the divergent performance of the sector.
- Volume fell 6% below the seven-day average, and the 24-hour turnover indicates only mild institutional commitment.
- The session started strong before encountering sharp pullbacks. Prices fell from $2.51 to $2.35 before making a late recovery to $2.34.
- The sharp intraday drop generated volume of $420.8 million (approximately 400% above average), confirming firm resistance at $2.44 and defining $2.33 as the emerging support base.
- The past hour saw a modest 1.4% rally to $2.353 as traders repositioned towards the close.
Price Action Summary
- The market structure showed range compression as XRP oscillated within a $0.20 corridor, reflecting increasing volatility ahead of a potential breakout.
- Institutional rotation remained selective, with capital flows favoring Bitcoin and Solana, while XRP’s relative strength index hovered in neutral territory.
- The launch of Ripple Prime in the US and persistent ETF speculation provided macro support, but price action continued to respect the descending triangle pattern that dominates higher time frames.
- Long-term holders of the token increased daily spending by 580% to $260 million, indicating continued profit-making despite stable inflows.
Technical analysis
- XRP is trading within a consolidation range capped by support at $2.30 to $2.35 and resistance at $2.60 to $2.72.
- The $2.54 pivot zone remains decisive for the directional bias. The descending triangle pattern connecting lower highs from the $3.15 peak continues to suppress breakout momentum, while the compression of the ribbon EMA suggests an impending volatility event.
- Volume analysis shows declining participation during bounces following high volume sell-offs, a classic bearish divergence setup.
- Unless XRP can sustain trading above $2.54, technical momentum favors continued consolidation with a possible drop towards $2.25-2.02.
What traders need to know
- Traders are eyeing the $2.54 resistance zone as the technical inflection for breakout confirmation.
- Sustained closes above this level could change the momentum, targeting between $2.80 and $3.00. On the contrary, failure to hold the $2.30 support risks resuming the decline towards the $2.20 range.
- Despite moderate participation, XRP’s squeeze setup offers asymmetric risk for directional traders looking for pre-breakout positioning.
- Market volatility remains elevated, with implied options ranges expanding for contracts expiring in November, a sign that the market expects a decisive move in the coming days.
