Amid heightened global market tensions, XRP has broken through critical resistance, signaling the return of bullish sentiment. The token has risen 3.6% in the last 24 hours, peaking at $2.33 before stabilizing near $2.25.
XRP Breaks Resistance and Forms Fresh Support
XRP’s recent rally saw it overcome the resistance at $2.21, a level that previously capped upward moves. The new support around $2.29 has held firm through multiple retests, suggesting bullish consolidation rather than a short-term spike.
Over the past 24 hours, XRP traded within a 7.5% range between $2.177 and $2.338, with the most significant buying pressure recorded between 11:00–16:00, driving the breakout.
Institutional Interest Fuels Momentum
Institutional interest appears to be mounting as speculation grows around a spot XRP ETF. This narrative, combined with multiple large block trades on leading exchanges, suggests quiet accumulation by large investors.
The backdrop of ongoing U.S.–China trade tensions and diverging central bank interest rate policies has increased volatility across risk assets. Yet, XRP has outperformed many peers, likely due to its recognized role in cross-border payment systems and a spike in demand during macro policy shifts.
Technical Snapshot: Bullish Momentum Intact
- Resistance cleared: $2.21 flipped to support
- New support zone: Confirmed between $2.246 and $2.29
- Next resistance target: $2.30, with a potential extension to $2.40
- Volume confirmation: Spikes during breakouts and pullbacks highlight high conviction from both buyers and sellers
A late-session dip saw XRP test $2.23, with over 100 million units traded, but buyers quickly re-entered. At 01:32–01:33, 1.6 million units pushed the price from $2.247 to $2.255, underscoring persistent bullish pressure.
Price Outlook: Eyeing $2.40 if Momentum Holds
With a Fibonacci extension projection pointing to $2.40, XRP could push higher if current support levels remain intact. The technical structure supports continued upward movement, particularly if macro catalysts—such as regulatory updates or ETF announcements—further strengthen investor sentiment.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.