After a rollercoaster trading day that saw XRP plunge more than 6%, the cryptocurrency has sharply bounced back. The plunge bottomed out around $2.011 during the 21:00 hour, but stabilizing momentum quickly took hold, allowing XRP to regain footing and carve out an ascending bullish channel, comfortably maintaining its foothold above the $2.04 support threshold.
Attention is now riveted on how XRP is mustering upward momentum as it presses against the $2.09 resistance ceiling.
Contextual Backdrop
- Market nerves remain on edge amid persistent macroeconomic jitters influencing appetite for high-risk assets.
- Ongoing trade disputes and shifts in policy across leading economies have stirred turbulence throughout the crypto sphere, provoking waves of sell-offs and profit realization among major tokens.
- Even with these fluctuations, XRP’s fundamentals—both on-chain data and chart indicators—have displayed resilience. The token continues to ride bullish institutional narratives, fueled by speculation around an imminent spot ETF greenlight and Ripple’s ongoing push to broaden global payment corridors.
- Market watchers are zeroing in on XRP’s attempt to lock in a higher low, a move that could set the stage for a breakout rally should it pierce resistance near $2.09 backed by solid volume.
Price Dynamics in Detail
Within the last 24 hours, XRP’s price swung through a 6.33% band, dropping sharply from $2.147 to a low of $2.011 during the intense sell-off around 21:00. The trading volume surged past 163 million units in this window, underscoring the heavy selling pressure.
The token then made a methodical recovery, establishing a higher low at $2.042 before rallying upwards to $2.083. In the session’s closing minutes, XRP edged from $2.078 to its high of $2.089, propelled by a volume spike of 1.38 million units at 06:20. This steady climb has formed a short-term ascending channel marked by consecutive higher lows recorded at $2.079, $2.082, and $2.083.
Supplementary data: XRP’s 24-hour trading volume averaged around 210 million units, reflecting robust liquidity. Notably, the token’s Relative Strength Index (RSI) hovered near 54, indicating a balanced momentum, while the Moving Average Convergence Divergence (MACD) indicator recently crossed into bullish territory, signaling a potential upside continuation.
Consolidated Technical Synopsis
- Trading range spanned 6.33%, with prices oscillating between $2.147 and $2.011.
- The peak selling volume peaked at 21:00, exceeding 163 million units traded.
- A significant higher low was established at $2.042, followed by a rebound to $2.083, hinting at resurgent buyer dominance.
- Resistance zone firmly stationed around $2.089 to $2.090; support levels consolidate between $2.011 and $2.042.
- The last trading hour observed a price leap to $2.089 supported by a 1.38 million volume burst at 06:20.
- The formation of a short-lived ascending channel is confirmed by sequentially higher lows.
- Buyers have persistently defended the $2.082–$2.083 band during minor retracements, indicating ongoing accumulation.
- MACD’s shift into positive terrain alongside a neutral RSI (~54) creates a technical landscape that favors sustained upward movement if resistance is overcome.
