XRP Retreats After Resistance Rejection Amid Institutional Selling
XRP failed to break through the $2.09–$2.10 resistance on Wednesday, pulling back to the $2.00 psychological level as institutional flows surged 54% above the weekly average. The move appears to reflect strategic distribution rather than retail panic, while ETF inflows continue to quietly compress supply.
Key Highlights
- XRP fell 4.3% from $2.09 to $2.00, underperforming the broader crypto market by about 1%.
- Peak intraday volume reached 172.8 million tokens—205% above the daily average—at $2.08, confirming the failed breakout.
- Overall session volume ran 54% above the 7-day average, indicating institutional distribution over emotional retail selling.
- Exchange balances have dropped from 3.95B to 2.6B tokens over 60 days, tightening supply as XRP trades within a narrowing multi-month triangle.
Market Context
- U.S. spot XRP ETFs recorded over $170 million in weekly inflows, continuing a streak of zero outflows.
- Heavy selling pressure persists in the $2.09–$2.10 band, where XRP has repeatedly failed.
- Market makers highlighted distribution pressure above $2.10 ahead of Wednesday’s move.
- Despite ETF support, XRP lagged broader crypto, with the CD5 index down 3.1%, signaling token-specific weakness.
Price Action Summary
- Intraday range: 5.4%, driven by resistance rejection and high-volatility unwind
- Peak volume: 172.8M at 19:00 UTC (205% above daily average)
- Resistance: $2.08–$2.10
- Late-session support: $1.999–$2.005
- Relative performance: Lagged broader crypto by ~1%
