XRP Tests Key Support as Traders Watch for Breakout Signal

XRP is currently consolidating near $2.15, hinting at a possible breakout while other major cryptocurrencies are influenced by macroeconomic uncertainties.

The token's price action shows an extended period of accumulation, with decreasing volatility and solid support around the 38.2% Fibonacci retracement level.

News Background

• XRP has been stable amidst global economic tensions, including escalating trade disputes and differing central bank policies that have affected risk assets, putting pressure on crypto investors.
• Despite this, XRP has maintained a steady price base following its impressive surge to $3.39 in January.
• Ripple continues to negotiate with the U.S. SEC, with ongoing settlement talks and speculations regarding the potential launch of an XRP spot ETF, despite delays in Franklin Templeton's application.
• Ripple's leadership is optimistic about XRP capturing a significant portion of SWIFT's transaction volume, highlighting its institutional potential.
• The crypto market's cautious stance has not deterred interest in Ripple's cross-border payment infrastructure, and traders are closely monitoring possible breakout signals.

Price Action

XRP traded within a tight range of $2.135 to $2.186 within 24 hours, indicating a potential market movement. A surge in price from $2.151 to $2.158 during a specific time frame suggested increasing buyer interest.

There was a brief pullback to $2.150, aligning with the 38.2% Fibonacci retracement level from January's peak.

Technical Analysis Recap

• The trading range for XRP was 2.38% within 24 hours, with support at $2.133 and resistance near $2.186.
• The current trading band of $2.150–$2.165 indicates narrowing volatility, a common sign before a breakout.
• The 38.2% Fibonacci retracement support at $2.152 held firm, with a volume spike confirming a local high at $2.158.
• Indicators like RSI and MACD are flat, signaling a potential breakout setup once volume picks up.

Disclaimer: This article contains information generated with AI tools and reviewed by CoinDesk’s editorial team. For more details, refer to CoinDesk’s full AI Policy.