XRP rebounds strongly after a steep decline as institutional buyers step up, establishing solid support amid ongoing market volatility.
Despite ongoing global economic uncertainties and regulatory pressures, XRP has shown notable resilience. After plunging to a low of $2.307 on heavy trading volume, the token has begun to form a series of higher lows, signaling renewed buying interest and a potential shift in momentum.
Key technical levels around $2.35 to $2.40 are now under close watch by analysts, who believe maintaining this support zone is crucial for a sustained upward move.
Technical Highlights
- XRP traded within a 3.76% price range over the past 24 hours, hitting a low of $2.307 during a significant sell-off with volume reaching 77.9 million.
- Buyers emerged strongly around the $2.32 level during recovery attempts between 13:00 and 14:00.
- The price action formed higher lows following the bottom, with resistance tested near $2.39 earlier in the day.
- In recent trading, XRP climbed 0.42% from $2.358 to $2.368, with volume spikes observed at 01:52 and 01:55.
- The asset broke through resistance at $2.36, reaching $2.366 and then a local peak near $2.369 on solid volume.
- With support holding above $2.368 and volatility diminishing, XRP is poised for potential further gains.
