As XRP Builds a Series of Higher Lows, $2.93 Stands as Critical Resistance

XRP Stalls Below $3 as Institutions Accumulate Ahead of ETF Launch

XRP continues to trade in a narrow consolidation range, as institutional players accumulate near key support levels while resistance at $2.93 remains unbroken. With the ProShares XRP Futures ETF set to launch on July 18, positioning appears to be intensifying — but conviction is still cautious.

Daily Performance

• Price Range: $2.82 – $2.93
• Closing Price: $2.89 (+1.8%)
• Intraday Spread: $0.12 (4.08%)
• Failed Breakouts: $2.92–$2.93 rejections at 12:00, 13:00, 17:00, and 18:00
• Key Support: $2.85 held firm during high-volume buying periods at 14:00 and 19:00

XRP bounced late in the session, recovering from $2.87 to $2.90 on volume spikes exceeding 2 million tokens, signaling large-scale accumulation activity likely led by institutional desks.

Market Behavior & Sentiment

Despite repeated attempts, XRP has struggled to clear $2.93, with structured selling pressure likely from corporate and treasury desks. The consistent bid near $2.85 suggests strong underlying demand — but traders remain reluctant to push higher ahead of the ETF’s launch and amid lingering regulatory uncertainty.

The market appears tightly controlled, with desks managing allocations below full exposure levels while waiting for ETF-driven liquidity or clearer policy direction.

Technical Snapshot

• Structure: Tight range-bound price action under $3.00
• Resistance: $2.93 remains the near-term ceiling
• Support: $2.85–$2.88 zone attracting strategic buying
• Pattern: Higher intraday lows suggest bullish accumulation
• Breakout Criteria: Clear move above $2.93 with >100M volume needed for trend confirmation

What’s Next?

• Will XRP break through $2.93 before the ETF launch, or remain pinned in its current band?
• Can a confirmed push above $3.00 trigger large-scale allocations by structured portfolios?
• Will a dip below $2.88 trigger a retest of $2.82, unwinding the recent recovery trend?

Bottom Line

XRP is caught between strong support and persistent resistance. With institutional players building positions but not yet committing beyond $2.93, the next move will likely hinge on ETF flows and volume triggers. Until then, $2.85 holds the floor — and $2.93 remains the ceiling.