XRP has just weathered a volatile 24-hour session, with bulls defending key support levels as trading volume tripled its daily average. As the token eyes the critical $3 mark, two sides of the market are in a fierce battle.
Here’s a look at the technical and on-chain factors driving both the bullish and bearish camps:
The Bullish Case 🟢
Massive Volume: Trading volume spiked to 155 million, nearly triple the daily average. This strong conviction from buyers helped fuel a sharp "V-shaped" recovery.
Key Support Held: Bulls aggressively defended the $2.82 support zone, validating it as a strong floor for future price action.
Whale Accumulation: While some large whales offloaded tokens, smaller whales have been accumulating, showing confidence in a potential long-term rally.
The Bearish Case 🔴
Resistance Wall: Sellers aggressively defended the $2.99 resistance, preventing a breakout to $3. The token's Relative Strength Index (RSI) is also showing signs of weakening momentum.
Broader Market Weakness: The entire crypto market saw a massive $360 million in liquidations, and broader institutional rotations from risk assets could continue to weigh on XRP’s price.
Security Concerns: The recent blockchain security downgrade, though quickly resolved, has introduced an element of doubt and selling pressure among some holders.
The next few hours will be critical. All eyes are on whether XRP can finally crack the $3 level and make a move toward its next key target at $3.17.
What do you think? Will the volume and support hold to push XRP higher, or will the broader market weakness and resistance cause a slide? 👇