XRP Pulls Back From Resistance as Institutional Selling Accelerates
XRP failed to break the $2.09–$2.10 ceiling on Wednesday, retreating to the $2.00 psychological level as institutional flows surged 54% above the weekly average. The move reflects strategic distribution rather than retail panic, while ongoing ETF inflows continue to compress supply beneath the surface.
Key Takeaways
- XRP declined 4.3% from $2.09 to $2.00, underperforming the broader crypto market by roughly 1%.
- Peak intraday volume reached 172.8 million tokens—205% above the daily average—at $2.08, confirming the failed breakout.
- Session volume ran 54% above the 7-day average, signaling institutional distribution rather than emotional selling.
- Exchange balances fell from 3.95B to 2.6B tokens over the past 60 days, tightening supply even as price action remains compressed within a multi-month triangle.
Market Context
- U.S. spot XRP ETFs posted over $170 million in weekly inflows, maintaining a streak of zero outflows.
- Heavy selling persists in the $2.09–$2.10 band, where XRP has repeatedly failed.
- Market makers had highlighted rising distribution pressure above $2.10 ahead of Wednesday’s move.
- XRP lagged broader crypto, with the CD5 index down 3.1%, indicating the weakness was token-specific rather than macro-driven.
Price Action Snapshot
- Intraday range: 5.4%, triggered by resistance rejection and high-volatility unwind
- Peak volume: 172.8M at 19:00 UTC (205% above daily average)
- Resistance: $2.08–$2.10
- Late-session support: $1.999–$2.005
- Relative performance: Lagged broader crypto by ~1%
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