XRP continues to trade near the $3.00 level, testing a falling wedge pattern. Resistance is set at $3.13, while support lies at $2.77 and $2.67.
Current XRP Dynamics
XRP is near $3.00 as bulls test a falling wedge with resistance at $3.13. Immediate support is at $2.77 and $2.67, providing a crucial base for the next move.
Volatility and Historical Moves
On the three-day chart, XRP’s Bollinger Bands are tightening, indicating reduced volatility and hinting at a potential sharp price movement. Historically, these squeezes have preceded significant breakouts in XRP's price cycles. Past rallies produced gains of 57.32%, 31.57%, and 67.65% following consolidation phases. The current Stochastic RSI reading of 17.26 also shows oversold conditions, suggesting momentum may be preparing to shift upward.
Institutional Demand and Exchange Listings
Institutional inflows into XRP reached $14.7 million last week, ranking second among altcoins after Solana’s $16.1 million. Year-to-date, XRP has accumulated $1.41 billion in inflows, confirming strong demand from professional investors. Additionally, Backpack exchange has introduced XRP spot trading pairs, expanding its crypto offerings and enhancing liquidity, highlighting rising interest in XRP across both institutional and retail markets.
XRP continues to show interest from institutional investors, with current technical indicators suggesting potential for further growth. Monitoring market movements will be key in determining future trends.
