XRP Jumps 6% After Sharp Dip, Signals Renewed Bullish Momentum

XRP surged 6% following a steep intraday sell-off, with price action now forming a bullish ascending channel above crucial support levels, suggesting renewed market strength.

After plunging over 6% in a single day, XRP found its footing. The token dropped sharply to $2.011 during the 21:00 hour but quickly stabilized and began a steady recovery. The bounce has established an upward-trending structure, with XRP holding above the $2.04 support zone as traders eye the key resistance near $2.09.

Market Context

• Sentiment remains cautious as global economic uncertainty and geopolitical tensions continue to weigh on risk assets.
• Broader crypto markets have faced pressure from shifting trade dynamics and policy changes among major economies, fueling liquidations and profit-taking.
• Despite the turbulence, XRP’s technical indicators and on-chain metrics remain solid. Institutional narratives—including speculation around a potential spot ETF and Ripple’s global payments initiatives—continue to support interest in the asset.
• Analysts are watching whether XRP can secure a higher low and challenge the $2.09 resistance level, which could pave the way for a breakout if accompanied by strong volume.

Price Action Details

Over the past 24 hours, XRP has experienced a trading range of 6.33%, sliding from $2.147 down to $2.011 amid intense selling around the 21:00 hour. Volume surged during this drop, exceeding 163 million units, highlighting significant selling pressure.

Following the decline, XRP steadily climbed, forming a higher low at $2.042 and pushing upward to $2.083. In the final hour of trading, XRP advanced from $2.078 to $2.089, recording the session’s high on a robust 1.38 million volume spike at 06:20. The recent price activity has carved out a short-term ascending channel, with successive higher lows appearing at $2.079, $2.082, and $2.083.

Technical Highlights

• XRP traded within a 6.33% range between $2.147 and $2.011.
• Peak selling pressure hit at 21:00 on volume exceeding 163 million units.
• A higher low was established at $2.042, suggesting returning buyer strength.
• Resistance lies between $2.089 and $2.090, with solid support at $2.011–$2.042.
• XRP spiked to $2.089 in the final hour, driven by 1.38 million units traded at 06:20.
• An ascending channel has formed, marked by consistent higher lows.
• Buyers repeatedly defended the $2.082–$2.083 area on minor pullbacks, signaling ongoing accumulation.
• The MACD has crossed into positive territory, while the RSI sits neutral around 54, indicating conditions are favorable for a potential move higher if resistance is broken.

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