XRP sees a slight increase as trading activity rises, indicating professional positioning ahead of key resistance levels.
News Background
- XRP rose by 0.7% in the last 24 hours, closing around $2.43, with a trading volume that surged 12% above its weekly average. The muted price movement occurs as the wider crypto markets stabilize following bitcoin’s steady ascent and decreased equity volatility.
- Experts noted that the increase in XRP trading signals renewed institutional interest ahead of looming SEC ETF decisions and Ripple’s active fundraising efforts.
- Even with modest gains, traders observed that volume-driven accumulation phases often precede significant price movements, especially when prices remain steady beneath resistance levels.
Price Action Summary
- The token fluctuated within a $0.13 range between $2.41 and $2.54 during the session from October 21 to 22, testing daily highs before retracting into consolidation.
- Trading volume hit 155.8 million tokens, notably surpassing the seven-day average, indicating significant involvement at current price levels.
- Peak activity was observed between 14:00 and 16:00 GMT, coinciding with institutional trading hours, where large buy orders pushed XRP above the $2.42 mark, establishing higher lows around $2.40.
- The price stabilized in the $2.41–$2.43 range as the session closed, forming a tight base that traders view as preparatory for accumulation.
Technical Analysis
- The short-term trend remains positive. A series of higher lows from the $2.40 base and ongoing support at the $2.41–$2.42 corridor indicate solid demand.
- Resistance is positioned around $2.45 and then at $2.50—the upper limit of the recent trading range.
- Increased trading volume amid minor price changes typically signifies institutional buildup; however, failure to break above $2.45 may lead to short-term retracement toward $2.40.
- RSI levels are close to neutral, indicating potential for continuation if buyers maintain interest above $2.42.
What Traders Are Watching
• The potential for the $2.42 support to continue attracting institutional bids.
• A possible breakout through $2.45–$2.50 to validate bullish continuation.
• ETF-related news or updates on Ripple’s fundraising as sentiment drivers.
• The overall tone in broader markets—bitcoin’s upward movement and gold’s weakness serve as key directional indicators.
