XRP trades in a narrowing range near $2.34, underperforming broader crypto markets as it eyes the key $2.54 resistance zone for a potential breakout amid high volatility.
XRP experienced a cautious 2.75% gain to $2.34 amid subdued trading volumes, underperforming broader crypto markets as it moves within a tightening price range.
Despite occasional intraday spikes, the token faces resistance at $2.44 while establishing a support base near $2.33, setting the stage for a potential breakout or breakdown.
Market activity showed range compression within a narrow $0.20 corridor, signaling restrained price swings ahead of a decisive move.
Trading volumes remain below average despite volatility surges, reflecting a selective institutional approach with capital favoring Bitcoin and Solana over XRP.
The token’s relative strength index sits neutral, reflecting balanced short-term momentum.
XRP Consolidation Tightens Ahead of Critical $2.54 Test
The XRP market is currently dominated by a descending triangle pattern formed by lower highs since its $3.15 peak, capping bullish momentum.
The critical pivot point at $2.54 is widely seen as decisive: sustained trading above this resistance could unlock an upward surge targeting $2.80 to $3.00.
Failure to hold support between $2.30 and $2.33 risks pushing prices down towards the $2.20 range and potentially lower.
Technical signals reveal decreasing volume during price rebounds and an exponential moving average (EMA) ribbon compression, both indicative of low conviction rallies and pending volatility.
As long-term investors ramp up daily spending—up 580% to $260 million—profit-taking pressure persists amid steady inflows.
The current pattern offers an asymmetric risk opportunity for traders positioning ahead of a breakout event.
Options markets reinforce this outlook, with implied volatility ranges expanding sharply ahead of November expirations, predicting significant price movements soon.
XRP’s market performance this week also faces macro support from Ripple Prime’s U.S. launch and continued Exchange-Traded Fund (ETF) speculation, though these factors have yet to translate into strong price momentum.
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XRP Eyes $2.54 Breakout After Narrow Range Rally
XRP trades cautiously near $2.34 with key resistance at $2.54. Volatility compresses as traders await a decisive breakout or drop below $2.30.