XRP Pulls Back as Resistance Holds Strong, Market Cools Despite Regulatory Progress
XRP slid 3.7% over the past day, retreating from a session high of $2.288 to close around $2.260 after facing stiff resistance at the $2.33 mark — a level it failed to break on three separate attempts.
The move reflects a cooling in short-term momentum, even as investor interest in the token remains elevated due to regulatory developments and speculation over a potential XRP-linked ETF.
Mixed Signals Amid Positive Developments
XRP had recently gained attention following news that Ripple’s RLUSD stablecoin received regulatory clearance in Dubai — a move seen as a positive signal for the project’s global ambitions. In parallel, optimism around Franklin Templeton’s pending spot ETF application had sparked short-term price surges across major altcoins, XRP included.
However, price action suggests the market is pausing to reassess. “Even with the fundamentals improving, traders are showing signs of hesitation at key levels,” said one crypto strategist. “This isn’t uncommon when a token tests resistance multiple times without follow-through.”
Ripple’s continued expansion in Asia-Pacific and the Middle East — especially in the real-world asset (RWA) tokenization space — remains a long-term bullish factor, but near-term technicals have taken the spotlight for now.
Technical Overview
- Price dropped from $2.288 to $2.260, a 3.7% decline, within a 5.8% trading range.
- Repeated rejections at $2.33–$2.34 formed a potential head-and-shoulders pattern, suggesting near-term weakness.
- A double-bottom structure near $2.25 helped XRP recover slightly late in the session.
- A spike in selling occurred between 01:31 and 01:33, with over 7 million XRP changing hands.
- While XRP began forming higher lows around 01:53, volume faded — a sign of weakening bullish momentum.
- If the $2.25 support level breaks, traders may eye $2.234 as the next area of interest.
As the ETF decision looms and Ripple advances its global footprint, XRP’s longer-term outlook remains intact. But in the short run, all eyes are on whether bulls can reclaim control — or whether another leg down is in store.
