XRP Recovers to $2.00 as Futures Volume Reaches $3.96 Billion
XRP has demonstrated resilience amid global economic challenges, recovering to the $2.00 support level after a correction.
Key Facts
- XRP traded within a 6.5% range over the past 24 hours, hitting a low of $1.91 and a high of $2.04.
- A V-shaped recovery pattern is forming, indicating accumulation following the dip.
- Global markets face volatility due to geopolitical issues, impacting digital assets like XRP.
- Futures interest surged, with nearly $3.96 billion in XRP derivatives traded, primarily on Binance (30.58%).
- Increased institutional interest is noted among analysts.
- ETF developments include new launches in Canada and ongoing discussions in the U.S. regarding an XRP ETF by Franklin Templeton.
- Traders monitor potential momentum for XRP to approach the resistance level at $2.14.
Price Action
- XRP rebounded from $1.912 to $2.040, consolidating around $2.000.
- Resistance confirmed at $2.020 with significant volume during hours 22–23.
- $2.000 is a key pivot zone; support held at $1.989.
- Narrowing volatility suggests possible further consolidation or breakout preparation.
Technical Analysis Recap
- 24-hour price range: $1.912–$2.040
- Resistance at $2.020 with above-average volume
- $2.000 remains a psychological level; support at $1.989
- V-shaped recovery indicates buyer momentum
- Futures volume reached $3.96B