XRP has displayed initial recovery signals after a four-day downturn, climbing from $2.72 to $2.89 amid ongoing market volatility. This rebound emerges despite the cryptocurrency still trading 1.53% lower over the past 24 hours.
Heavy institutional selling pressure contributed to the recent decline, with large holders offloading over 710 million XRP within 24 hours, highlighting significant whale activity influencing price movements.
Technical analysis identifies $2.80 as immediate temporary support, backed by a stronger foundational zone between $2.40 and $2.55. Resistance levels loom at $3.00 and $3.30, presenting critical barriers for sustained upward momentum.
Clearing the psychological $3.00 resistance threshold is deemed essential to validate a bullish reversal scenario, potentially unlocking a path toward the $3.60 target.
Short-term price direction is expected to hinge heavily on macroeconomic uncertainties and continued institutional trading patterns, underscoring broader market sensitivities.