XRP posted 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 the broader crypto markets combine following Bitcoin’s steady rise and avoiding volatility in equities.
- Analysts said the surge in XRP trading reflected updated institutional flows ahead of the SEC’s pending ETF decisions and Ripple’s continued capital increase.
- Despite the limited advance, traders noted that volume-led phases are often preceded by directional expansion, especially if the price is firm under resistance.
Summary of Price Action
- The token traded within a $0.13 band between $2.41 and $2.54 in the October 21-22 session, testing intraday highs before sliding into consolidation.
- Volume reached 155.8 million tokens—higher than the seven-day average—proving significant participation at current price levels.
- Peak activity occurred between 14:00 and 16:00 GMT, overlaying institutional trading hours, where large buy orders lifted XRP above the $2.42 threshold and established higher lows near $2.40.
- The price stabilized in the $2.41-$2.43 zone nearby, forming a narrow base that traders interpreted as preparatory accumulation.
Technical Analysis
- The short-term structure remains constructive. A series of higher lows from the $2.40 base and repeated resistances of $2.41-$2.42 support the corridor underlining firm demand.
- Resistance sits near $2.45 and then $2.50 – the upper bound of the recent range.
- Volume expansion amid price gains typically reflects institutional buildup, though failure to expand above $2.45 could trigger a near-term pullback to $2.40.
- The RSI reading is near neutral, suggesting room for continuation if buyers maintain contact above $2.42.
What traders are watching
• If 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.
