- XRP exceeded the $2.50 resistance level with a 31% volume increase above its weekly average.
- The breakout confirmed an inverse head-and-shoulders pattern, signaling potential gains toward $2.65–$2.80.
- Risk-on sentiment in crypto markets helped boost altcoins, with XRP outperforming a key crypto index by 5 percentage points.
- Intraday volume peaked at 142 million tokens, with buying driven by spot market demand rather than leveraged trades.
- Reduced exchange reserves and stable open interest suggest institutional accumulation and a solid base forming at $2.50.
XRP surged past the $2.50 price point on Thursday, breaking a significant resistance level accompanied by a 31% increase in trading volume above the weekly average. This rise aligned with a broader shift toward riskier assets in the cryptocurrency sector, as investors moved capital into large altcoins with strong technical setups.
The price climbed from $2.50 to $2.57 during the trading session, with volume reaching 142 million tokens. This increase was marked by three consecutive higher lows at $2.44, $2.48, and $2.51, indicating steady buying pressure around the $2.50 range. Although some traders took profits near $2.58, the price maintained support above $2.50, suggesting increased exposure by institutional investors on pullbacks.
This movement confirmed the completion of an inverse head-and-shoulders pattern—a technical setup often seen as a bullish indicator. Momentum tools like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) turned positive, supporting the sustainability of the upward trend. Immediate resistance is seen at $2.60, with a possible target range of $2.65 to $2.80 if buying continues.
Market dynamics improved due to softer U.S. inflation reports and declining Treasury yields, which encouraged investors to increase allocations in altcoins. XRP outperformed the CoinDesk 5 index by about five percentage points, pointing to asset-specific demand rather than general market momentum. Meanwhile, exchange reserves of XRP dropped by approximately 3.3% since early October, a sign often associated with accumulation by large holders. Open interest in derivatives markets remains steady, and neutral funding rates indicate that this price move is mainly supported by spot market buying.
Sustained volume above 130 million tokens is considered important for maintaining momentum toward the $2.70–$2.80 price zone. Failure to keep the $2.50 support could lead to a price decline back to $2.40–$2.42 levels.
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