XRP dipped during a volatile trading session, but this decline was paired with notably high volume — indicating that significant market players were involved despite price struggles at crucial technical levels.
News Background
- Crypto markets experienced sharp fluctuations on Thursday after a weaker-than-anticipated U.S. CPI report, which momentarily pushed Bitcoin above $89,000 during U.S. trading hours.
- This upward movement, however, quickly receded, with the crypto market once again trailing behind equities, which maintained a solid positive stance throughout the day.
- The swift turnaround underscored a recurring theme in recent weeks: macro-driven rallies in crypto are failing to maintain momentum as market positioning narrows and sellers reestablish dominance.
- Amid this context, XRP continued to face pressure after failing to regain the $2.00 level earlier this month — a threshold many analysts consider a structural turning point.
Technical Analysis
XRP remains below its key moving averages, with the loss of the $1.93–$2.00 zone keeping the overall structure biased downward. Former support at around $1.93 has transformed into resistance, aligning with important Fibonacci retracement levels and hindering rebound efforts.
Although daily momentum indicators show early signs of stabilization — including a developing bullish RSI divergence noted by several analysts — the price has yet to validate that signal. Until XRP can gain traction above immediate resistance levels, upward movements are at risk of new selling pressure.
Price Action Summary
XRP fell 1.2% to $1.84 throughout the session, trading within a broad $0.10 range, or about 5.4%. The price initially bounced from support around $1.84 before spiking to $1.93 on strong volume, only to sharply reverse as sell orders materialized at resistance.
Trading volume surged as much as 147% above the 24-hour average during the afternoon selloff, peaking at approximately 155 million tokens as XRP retreated towards session lows. The heaviest trading activity clustered around the highs and during the subsequent decline, indicating distribution rather than panic-induced liquidation.
In late-session trading, XRP stabilized just above $1.84, but bids remained scarce, and follow-through buying was limited as the token closed below all major short- and medium-term trend markers.
What Traders Should Know
- Support: $1.84 is the immediate level to monitor, with deeper support at $1.73 and macro support around $1.64.
- Resistance: $1.93 is the first significant ceiling, followed by $1.98 and the psychological $2.00 level.
- Volume Signal: Increased activity without upward continuation indicates positioning and distribution.
- Bias: Remain cautious while below $1.93; any technical relief rallies require validation.
Until XRP can reclaim previous support with sustained acceptance, the price action suggests that consolidation or further downside is more probable than a clear reversal — even as momentum indicators hint that selling pressure might be easing.
