What to know:
XRP rebounded sharply after a 6% drop, stabilizing above $2.04 and forming a bullish ascending channel.
Traders are monitoring XRP's upward pressure near the $2.09 resistance line amid global economic uncertainty.
Analysts focus on XRP's potential breakout if resistance at $2.09 is breached with volume confirmationXRP has rebounded sharply after a turbulent session that saw prices drop over 6% in a single day.
Following a swift sell-off to $2.011 during the 21:00 hour, the asset stabilized and staged a recovery, forming a bullish ascending channel and holding support above the $2.04 level.
Traders are now watching closely as XRP builds upward pressure near the $2.09 resistance line.News Background
Market sentiment remains fragile as global economic uncertainty continues to weigh on risk assets.
Trade tensions and policy shifts among major economies have pressured the broader crypto landscape, triggering liquidations and profit-taking across key tokens.
Despite the volatility, XRP’s on-chain and technical metrics have held firm. The token continues to benefit from institutional narratives surrounding a potential spot ETF approval and Ripple’s global payments expansion.
Analysts are focused on XRP’s ability to establish a new higher low, which could set the stage for a breakout if resistance at $2.09 is breached with volume confirmation.$XRP