XRP continues to consolidate above $2.28, with resistance at $2.35, signaling market indecision near key technical levels.
Although many traders express interest around $2.00, the level has not been tested, indicating that other forces are at work.
The tight range between $2.28 and $2.35 points towards either a rising breakout or falling breakdown, depending on what traders find.
XRP’s price action is continuing to remain in a consolidated zone where the level of $2.00 is yet to be tested. Data from Coingecko shows that XRP is being traded at $2.31 and that price has gone down by 1.4% compared to yesterday. The coin maintains a strong position, ranking #4 by market capitalization. Despite visible volatility in recent weeks, the asset has preserved key support at $2.28, while resistance remains capped at $2.35.
Heatmap Reveals Strong Liquidation Interest at $2.00 Level
The Binance XRP/USDT liquidation heatmap points to strong activity at the $2.00 level. So far, this level has not been met, leading to arguments about what it could mean for the economy—is it a strong foundation or a possible form of economic lockdown?. The chart, spanning three months, reveals consistent trader positioning near this zone.
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Notably, the market has avoided testing this liquidation area despite repeated downward swings. This suggests either strength in buy orders placed slightly above $2.00 or hesitancy from larger players to trigger mass exits. Either scenario underscores the technical significance of this price point in current XRP market behavior.
Tight Price Range Maintains Pressure Near Key Levels
XRP has traded within a narrow range in the last 24 hours, moving between a low of $2.28 and a high of $2.35. This constriction follows a sustained climb from below $2.00 in early April. The heatmap also shows areas of heavy historical liquidation between $2.20 and $2.35, indicating that current price action sits within a previously volatile zone.
The gradual price rise and sustained levels could suggest market participants are waiting for clear direction before initiating large positions. Additionally, the current price gains of 1.3% against BTC and overall upward momentum lend further support to the consolidation thesis.
Consolidation Suggests Market Awaits Larger Move
As XRP holds above its key support, market interest appears to concentrate near the $2.00 zone. Still, until there is a clear answer at this stage, the path the market will take in the coming months stays unclear. Prices are remaining steady in a holding pattern and traders are closely following to see if they break out of the range between $2.28 and $2.35.
