XRP posts a modest gain amid a clear uptick in trading activity, suggesting professional positioning ahead of critical resistance zones.
News Background
- XRP climbed 0.7% over the past 24 hours, closing near $2.43 as volume spiked 12% above its weekly average. The subdued price action comes as broader crypto markets consolidate following bitcoin’s steady rise and easing volatility in equities.
- Analysts said the uptick in XRP trading reflects renewed institutional flows ahead of the SEC’s pending ETF decisions and Ripple’s ongoing capital raise.
- Despite the limited advance, traders noted that volume-led accumulation phases often precede directional expansion, particularly when price holds firm under resistance.
Price Action Summary
- The token traded within a $0.13 band between $2.41 and $2.54 during the October 21–22 session, testing intraday highs before slipping back into consolidation.
- Volume reached 155.8 million tokens — well above the seven-day average — confirming meaningful participation at current price levels.
- Peak activity occurred between 14:00 and 16:00 GMT, overlapping with institutional trading hours, where large buy orders lifted XRP above the $2.42 threshold and established higher lows near $2.40.
- Price stabilized in the $2.41–$2.43 zone into the close, forming a narrow base that traders interpret as preparatory accumulation.
Technical Analysis
- Short-term structure remains constructive. A series of higher lows from the $2.40 base and repeated defenses of the $2.41–$2.42 support corridor underline steady demand.
- Resistance sits near $2.45 and then $2.50 — the upper boundary of the recent range.
- Volume expansion amid muted price gains typically reflects institutional buildup, though failure to extend above $2.45 could trigger near-term retracement toward $2.40.
- RSI readings hover near neutral, suggesting room for continuation if buyers sustain engagement above $2.42.
What Traders Are Watching
• Whether the $2.42 floor continues to attract institutional bids.
• Potential breakout through $2.45–$2.50 to confirm bullish continuation.
• ETF-related developments or Ripple fundraising updates as sentiment catalysts.
• Broader cross-asset tone — bitcoin’s drift higher and gold’s weakness remain key directional cues.
