Decoding XRP resistance levels – Can the $2.3 hurdle be cleared?

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.