XRP posts a modest gain amid a sharp increase in trading activity, suggesting professional positioning ahead of critical resistance zones.
News context
- XRP climbed 0.7% over the past 24 hours, closing near $2.43 as volume climbed 12% above its weekly average. The moderate price action comes as broader crypto markets consolidate following Bitcoin’s steady rise and decreasing stock volatility.
- Analysts said the rise in XRP trading reflects the resumption of institutional flows ahead of pending SEC rulings on ETFs and Ripple’s ongoing capital raise.
- Despite this limited advance, traders noted that volume-driven accumulation phases often precede directional expansion, particularly when prices hold below resistance.
Price Action Summary
- The token traded in a $0.13 band between $2.41 and $2.54 during the October 21-22 session, testing intraday highs before falling back into consolidation.
- Volume reached 155.8 million tokens – well above the seven-day average – confirming significant participation at current price levels.
- The peak activity occurred between 2:00 p.m. and 4:00 p.m. GMT, overlapping with institutional trading hours, where large buy orders took XRP above the $2.42 threshold and set higher lows near $2.40.
- The price stabilized in the $2.41-$2.43 area until the close, forming a narrow base that traders interpret as a preparatory accumulation.
Technical analysis
- The short-term structure remains constructive. A series of higher lows from the $2.40 base and repeated defenses of the $2.41 to $2.42 support corridor highlight stable demand.
- Resistance lies around $2.45 and then $2.50 – the upper limit of the recent range.
- Volume expansion amid moderate price gains generally reflects institutional strengthening, although failure to break above $2.45 could trigger a near-term retracement toward $2.40.
- RSI readings are hovering near neutral, suggesting room for continuation if buyers maintain commitment above $2.42.
What traders are watching
• If the floor of $2.42 continues to attract institutional offers.
• Possibility of breakout from $2.45 to $2.50 to confirm bullish continuation.
• ETF-related developments or Ripple fundraising updates as sentiment catalysts.
• A broader tone for all assets: Bitcoin’s rise and gold’s weakness remain key directional indicators.
