Decoding XRP resistance levels – Can the $2.3 hurdle be cleared?
2025-07-05 05:03:43
Main Idea
XRP faces significant resistance at the $2.3 level, with technical indicators showing mixed signals of bullish structure but weakening demand and low on-chain activity.
Key Points
1. XRP bulls failed to breach the $2.3 resistance zone, with over 1 billion XRP tokens moved off exchanges.
2. The weekly chart shows a bullish swing structure but a bearish internal market structure, with the $2.60 zone consistently rejecting bullish attempts since March.
3. Trading volume has been declining, and the On-Balance Volume (OBV) trended downward in June, signaling weakening demand.
4. The $2.27–$2.32 supply zone has been a major resistance level throughout June, with bulls struggling to break above it.
5. The Network Value to Transactions (NVT) ratio indicates low on-chain activity, reinforcing concerns about weak network usage.
Description
Analysis showed that XRP swing traders can look to go long once the mid-range resistance was retested as support.
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