โฌ ๐ซ๐ฅ๐ฃ ๐ฅ๐๐๐ข๐ฉ๐๐ฅ๐ฆ ๐๐๐ข๐ฉ๐ $๐ฎ.๐ญ๐ด, ๐๐จ๐ง ๐ง๐ฅ๐๐๐๐ก๐ ๐ฉ๐ข๐๐จ๐ ๐ ๐ง๐๐๐๐ฆ ๐ ๐๐๐ฉ๐
๐ XRP bounced back this weekend after a short-term dip earlier in the week, offering a breather to holders.
On Friday, the price surged to $2.192 from support at $2.08, and is now hovering around $2.18, up 2.18% in 24 hours.
๐ป However, the excitement is tempered by a sharp 49% drop in 24-hour trading volume, down to $1.76 billion, according to CoinMarketCap. This volume decline raises caution among traders watching for a confirmed reversal.
๐ธ Key Resistance Zones & Technical Outlook
๐น Resistance Levels: XRP faces strong resistance at the $2.50โ$2.60 zone
๐น Moving Averages to Watch:
โข 50-day MA: $2.26
โข 200-day MA: $2.34
๐ A break above both MAs could trigger momentum for another rally.
๐บ XRP is currently trading inside a symmetrical triangle, indicating potential breakout conditions if volume returns.
๐น Whatโs Fueling Speculation?
โ ๏ธ A mix of fundamental news and speculative catalysts is shaping XRPโs price behavior:
โ $300M XRP Treasury Initiative
China-based Webus International filed with the SEC to launch a corporate treasury program using XRP, signaling growing institutional interest.
โ Rippleโs RLUSD Stablecoin Greenlit in Dubai
Regulatory approval for RLUSD is expected to benefit the XRP Ledger ecosystem and increase real-world utility.
๐ง Spot XRP ETF Decision Looms
All eyes are now on Franklin Templetonโs proposed XRP ETF, with a decision expected by June 17.
A green light could open the doors for institutional capital inflow and improved liquidity.
๐งญ Final Thoughts
Despite the price recovery, the volume drop is a red flag for now. Traders await confirmation through increased participation and ETF-related news.
A breakout remains on the tableโbut only if the bulls can bring the volume back.
