Repeated Rejection at Key Technical Level Dampens Momentum
XRP fell 3.7% in the last 24 hours, retreating from a high of $2.288 to $2.260 after being rejected three times at the crucial $2.33 resistance level. This persistent barrier has shifted short-term sentiment, despite recent optimism from regulatory wins and ETF speculation.
Resistance at $2.33–$2.34 remains firm, forming a clear technical ceiling after multiple failed breakout attempts.
Market Outlook: Regulatory Buzz Meets Bearish Price Action
Market volatility was initially driven by anticipation of a potential spot XRP ETF, with expectations tied to a possible decision by major asset managers. Additionally, Ripple’s RLUSD stablecoin received regulatory approval in Dubai, boosting mid-term sentiment.
However, traders appear to be losing confidence in XRP’s ability to sustain upward momentum. The failure to hold intraday gains, combined with declining recovery volume, has caused the market to lean bearish.
A short-term double bottom at $2.250 has formed, but volume weakness indicates that buyers may be retreating.
Technical Analysis Breakdown
- Price dropped from $2.288 to $2.260, with a 5.8% peak-to-trough trading range.
- Three rejections at $2.33–$2.34 confirm strong resistance, and a head-and-shoulders pattern has emerged, with the neckline near $2.285.
- A double bottom near $2.250 was seen late in the session, triggering a small rebound.
- Heavy selling peaked between 01:31 and 01:33, with over 7 million XRP units traded.
- Recovery attempts at 01:53 formed higher lows, but volume declined, signaling a weak bounce.
- If $2.25 support breaks, the next downside target is estimated at $2.234.
Longer-Term Perspective
Despite short-term technical headwinds, XRP continues to maintain relevance in global finance discussions, particularly in cross-border payments and real-world asset tokenization. Its strategic partnerships in the Middle East and Asia-Pacific regions could help support longer-term valuation.
But for now, all eyes are on the $2.25 support zone as the next key battleground between bulls and bears.