XRP XRP fell 3.7% over the past 24 hours, reversing from a daily high of $2.288 to close near $2.260 after three rejections at the $2.33 resistance level.
Despite forming a short-term double bottom at $2.250, declining recovery volume points to sustained bearish pressure.
News Background
- XRP’s sharp pullback follows days of heightened volatility fueled by anticipation over a possible spot ETF decision from Franklin Templeton, expected later this month.
- While momentum had built around regulatory wins — including Ripple’s RLUSD stablecoin approval in Dubai — the market’s response to repeated rejections at the $2.33 resistance level suggests buyers are now facing fatigue.
- XRP remains at the center of broader discussions about the role of crypto in global payments.
- The firm’s ongoing partnerships in the Middle East and Asia-Pacific — particularly in real-world asset tokenization — may support the case for long-term value, but in the short term, technical sentiment has shifted as volume fades on each successive recovery attempt.
- Traders will be watching closely to see if XRP’s support at $2.25 can hold under continued pressure.
Technical Analysis Highlights
• Price declined from $2.288 to $2.260 (3.7% drop), with 5.8% peak-to-trough range.
• Rejections at $2.33–$2.34 zone confirmed resistance and formed a head-and-shoulders pattern (neckline: $2.285).
• Double bottom at $2.250 developed in final hour, triggering a partial recovery.
• Selling peaked at 01:31–01:33 with over 7M units traded.
• Recovery began at 01:53 with higher lows forming, though volume declined on the bounce. • If $2.25 fails, downside target sits near $2.234.