coindesk.com
XRP 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.
Price Action
XRP posted a 6.33% range over the last 24 hours, sliding from $2.147 to $2.011 during a sharp sell-off centered around the 21:00 hour. Volume during that period spiked to over 163 million units, confirming intense downward pressure.
The asset then recovered steadily, forming a higher low at $2.042 before pushing up to $2.083. In the final hour, XRP climbed from $2.078 to $2.089, marking the session’s high on a strong 1.38M volume burst at 06:20. This price action has formed a short-term ascending channel, with higher lows observed at $2.079, $2.082, and $2.083.
Technical Analysis Recap
- XRP posted a 6.33% trading range from $2.147 to $2.011.
- Heaviest selling occurred at 21:00 with over 163M in volume.
- Higher low formed at $2.042; recovery to $2.083 suggests buyer control returning.
- Resistance now sits at $2.089–$2.090; support range firm at $2.011–$2.042.
- Final hour saw price jump to $2.089 on 1.38M volume at 06:20.
- Short-term ascending channel confirmed with sequential higher lows.
- Buyers consistently defended $2.082–$2.083 on minor pullbacks, signaling accumulation.
- MACD crossing into positive territory; RSI neutral at ~54 — conditions favor a continuation if resistance is cleared.