Shows $XRP
Strong resilience against rising global economic pressures, having bounced from a sharp correction to regain the key support level at $2.00.
The coin traded within a range of 6.5% over the past 24 hours, hitting a low of $1.91 before rising to $2.04. A sharp V-shaped recovery pattern has emerged, with increasing trading volume, indicating accumulation in trading after the decline.
News background
Global markets remain unsettled due to geopolitical frictions and trade uncertainty, causing volatility across all digital assets. $XRP was no exception, briefly falling below the $2 threshold before recording a recovery.
This recovery has been supported by a huge increase in futures trading – with nearly $3.96 billion in derivatives $XRP traded, led by #Binance (30.58%).
Analysts see this increase as evidence of renewed institutional interest in the asset.
The momentum of exchange-traded funds (ETFs) is also increasing. In Canada, 3iQ and Purpose Investments launched #XRP ETFs on the Toronto Stock Exchange, while in the United States, the U.S. Securities and Exchange Commission (#SEC ) opened a comment period on the proposed Franklin Templeton XRP ETF – a move that could indicate a relaxation of regulatory constraints.
Traders are now watching to see if XRP can build enough momentum to retest the next major resistance level at $2.14.
Price movement
The price of XRP bounced from a low of $1.912 to a high of $2.040, forming a consolidation pattern around the $2.000 level.
A V-shaped recovery began near $1.913, with the $2.020 level emerging as high-volume resistance during hours 22 and 23.
The $2.000 area remains a key pivot point, with near-term resistance at $2.003 and support backed by trading volume at $1.989.
Price movement in recent hours has shown a decrease in volatility, a potential indicator of further consolidation or preparation for a price breakout.
Technical analysis summary
24-hour price range: $1.912 - $2.040 (6.5%)
Resistance confirmed at $2.020 with trading volume above average.
The $2.000 level remains a key psychological level, while support is established at $1.989.
The V-shaped recovery pattern indicates momentum for buyers.
Futures trading volume rose to $3.96 billion, indicating intense activity in derivatives.