XRP Navigates Volatile Waters, Builds Higher Low Amid Market Pressure
XRP rebounded strongly, climbing about 7% in the last 24 hours to trade near $2.20 after touching a critical support level around $2.07. The volatile session featured heavy volume spikes, including a peak of 228.6 million tokens traded in a short timeframe, signaling active buyer interest at lower prices.
Positive news from Ripple, including regulatory approval for its RLUSD stablecoin in Dubai, has helped bolster sentiment. Meanwhile, the market is awaiting a pivotal decision on Franklin Templeton’s spot XRP ETF expected in mid-June, which many anticipate could unlock fresh institutional inflows.
While broader market turbulence persists, XRP’s ability to hold above its 200-day moving average suggests an underlying strength. Sellers remain active near resistance in the $2.50 to $2.60 zone, posing a challenge to sustained gains.
From a technical standpoint, XRP is forming a higher low pattern — often a bullish indicator — and consolidating within a symmetrical triangle formation. This setup hints at a potential breakout, keeping traders attentive to shifts in volume and price action.
