XRP faced a sharp drop in pressure in the last 24 hours, lowering 5.3% despite the activity of large -scale whales and attenuating geopolitical tensions.
The asset went from $ 2.21 to a session hollow of $ 2.08 before a modest recovery at $ 2.10.
While the wider market of cryptography tried to stabilize after the cease-fire agreements in the Middle East, the momentum of XRP remained fragile, with a technical resistance building at $ 2.17.
New context
- The feeling of the market has improved slightly after former American president Donald Trump has helped negotiate a cease-fire between Iran and Israel, soothing certain fears of investors.
- Despite this, XRP had a hard time keeping recent gains while traders reacted to the big chain movements. Ripple transferred $ 439 million from XRP to an unknown portfolio, and other whale wallets have moved an additional $ 58 million to centralized scholarships – raising questions about potential distribution or internal reshuffle.
- Although these events drew attention, the incapacity of the token to recover resistance signals of $ 2.14 underlying the bearish momentum.
- Technical analysts continue to monitor the descending channel model of XRP, with expectations for an escape or a break between July and September. For the moment, the area from $ 2.08 to $ 2.09 remains a critical level to hold.
Action
XRP increased from $ 2.21 to $ 2.10 over the period 24 hours a day, marking a decrease of 5.3% in a range of $ 0.13. The most steep sale occurred between 12:00 p.m. and 4:00 p.m. UTC on June 26, with a consecutive hourly volume greater than 99 million XRP, the price fell to $ 2.10. The resistance clearly trained at $ 2.17, with several rejection wicks greater than $ 2.12 later in the session.
At midnight UTC, XRP had seen its session below $ 2.08. A modest rebound followed in the last hour of the session, because the price went from $ 2.09 to $ 2.10, with a short momentum to $ 2.105. A drop in volume at the end of the session suggests the buyer’s fatigue, although the $ 2.08 support area has firm.
Summary of technical analysis
• XRP decreased by $ 2.3% to $ 2.21 to $ 2.10, with a total intra -day range of $ 0.13
• The heaviest sale occurred from 12 p.m. to 4 p.m. UTC on volume over 114m and 99m XRP
• Strong resistance formed at $ 2.17; Key support tested at $ 2.08 at $ 2.09
• Recovery attempts failed at $ 2.14 and $ 2.12 before paying around $ 2.10
• The last hour showed a modest gain of 0.54% from $ 2.09 to $ 2.10, with a volume at 930K XRP for 01: 42–01: 45
• Consolidation almost $ 2.10 in the last 15 minutes suggests short -term stabilization
