XRP price continues to hold above the $2 support zone, suggesting accumulation before a potential breakout as traders await a decisive move for the Ripple token.
Summary
- XRP consolidates between $2 support and $2.67 resistance.
- Low volume suggests traders await a breakout confirmation.
- A close above $2.67 could trigger renewed bullish momentum.
If XRP (XRP) continues to hold above the $2 support, the likelihood of a breakout toward $2.67 and beyond remains valid. A confirmed close above $2.67 would open the probability of a sustained rally toward the next major resistance near $3.10.
Conversely, losing $2 support on a closing basis would invalidate the bullish scenario and expose the asset to deeper retracement levels.
XRP price key technical points:
- Support Zone: $2 remains the key high-timeframe support holding strong.
- Resistance Level: $2.67 continues to act as a strong rejection point.
- Accumulation Phase: Price is coiling within a narrowing range, forming an apex zone that could trigger volatility once broken.
The $2 support has proven to be a crucial region for XRP, with multiple daily candles closing above it, reflecting strong buying interest. Despite this, the resistance level near $2.67 has repeatedly capped upward momentum, confirming that sellers remain active at higher levels. The interplay between these two zones creates a defined range that has yet to resolve decisively.
From a market structure perspective, XRP is consolidating in an equilibrium zone, a neutral state following recent volatility. This type of structure often precedes large directional movements as liquidity builds on both sides of the range. Traders typically interpret such setups as preparation phases for the next expansion, with volatility likely to increase once the apex tightens further.
Volume data adds further weight to this interpretation. Recent sessions show subdued trading volume, which is consistent with market participants waiting for confirmation before entering new positions. For a meaningful breakout to occur, the move must be supported by a surge in bullish influxes if it’s to the upside, or strong bearish volume if to the downside.
