Ripple’s XRP price has steadied above $3.1 after reaching a weekly high of $3.3, as traders eye potential catalysts for another breakout. This consolidation phase comes amid heightened market activity driven by broader crypto trends, including Bitcoin’s rally above $105,000 and the launch of memecoins linked to President Trump’s administration.
Market Consolidation and Strategic Trader Moves
XRP’s price movement is currently confined within a tight range between $3.3695 and $2.8277, reflecting a balance between buyers and sellers. This price stability follows a recent liquidity boost from the launch of RLUSD stablecoin and growing institutional interest, highlighted by Ripple executives attending a pre-inauguration event.
On-chain data from CryptoQuant indicates a significant outflow of 150 million XRP—valued at approximately $450 million—from Binance wallets over the past 10 days. Such movements suggest traders are shifting assets into cold storage, signaling long-term bullish sentiment and tightening immediate market supply.
Catalysts for the Next XRP Rally
Market speculation around potential XRP ETF approvals has added fuel to investor optimism. Prominent firms like VanEck and Bitwise recently filed applications with the SEC, aiming to launch XRP-focused ETFs. This development could trigger a wave of institutional demand, driving prices higher.
Technical indicators, including the Ichimoku Span Intersection (ISI), highlight key support at $2.9 and resistance at $3.6. A decisive break above $3.3695 could ignite a rally toward $3.7 and beyond, with $4 as a plausible target if buying momentum persists.
Risks and Near-Term Outlook
However, failure to hold the $2.8277 support level could lead to a retest of lower levels, potentially dragging XRP toward $2.5. Mixed technical signals, such as a slight negative divergence on the MACD, underscore the need for caution.
Also Read: XRP’s 7-Year Breakout: A Game-Changer or Another Crypto Debate?
For now, XRP’s price trajectory depends on its ability to break out of its consolidation range. With institutional accumulation and ETF speculation building, the stage is set for a potential bullish breakout in the coming weeks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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