XRP Builds Higher Lows, $2.93 Breakout Would Signal Trend Shift
2025-07-16 06:43:39
Main Idea
XRP is consolidating under $3.00 with strong support at $2.85 and resistance at $2.93, as institutional activity and the upcoming ProShares’ XRP Futures ETF launch influence market dynamics.
Key Points
1. XRP traded in a narrow range, closing at $2.89 with a 1.8% daily gain, facing resistance at $2.93 and support at $2.85.
2. Institutional selling prevented breakouts above $2.93, while buy-side activity at $2.85 suggests tight-range rebalancing ahead of the ETF launch.
3. The ProShares’ XRP Futures ETF is set to launch on July 18, with market activity indicating potential volatility spikes.
4. Volume spikes and accumulation zones near $2.85 hint at positioning for future price movements, but regulatory ambiguity limits upside potential.
5. A clear break above $2.93 with volume above 100 million is needed for a continuation of the upward trend, while failure to hold $2.88 could lead to a retest of $2.82.
Description
What to know: XRP traded in a narrow 4.08% range between $2.82 and $2.93 from July 15 04:00 to July 16 03:00, closing at $2.89 for a 1.8% daily gain. Corporate breakout attempts above $2.92–$2.93 failed four times (12:00, 13:00, 17:00, 18:00) as coordinated institutional selling emerged. Market makers and treasury desks provided strong support around $2.85, with volumes exceeding the 78.9 million daily average during 14:00 and 19:00 accumulation windows. Final-hour move from $2.88 to $2.90 (+0.6...
Latest News
- The Protocol: Layer-2 Eclipse’s Airdrop Goes Live2025-07-16 17:58:01
- ATOM Surges 4% as Cosmos Abandons EVM Strategy for Interoperability Focus2025-07-16 17:42:47
- ICP Climbs With Broader Crypto Rally, Holds Gains Above $5.502025-07-16 17:42:30
- NEAR Surges 8% as Altcoins Turn Bullish2025-07-16 17:41:34
- Q2 2025: From Balance Sheets to Benchmarks2025-07-16 16:20:29