XRP Retreats After Triple Rejection at $2.33, Bears Regain Near-Term Control
XRP lost ground on Thursday, dropping 3.7% to close near $2.260 after failing three times to break through critical resistance at $2.33. The move signals a shift in short-term sentiment, with technicals now outweighing recent bullish catalysts.
The token briefly rallied to $2.288 before selling pressure overwhelmed buyers. A late-session double bottom near $2.25 helped stabilize price action, but fading volume on the recovery points to softening demand.
Context: Fundamentals vs. Flow
XRP’s weakness comes despite positive headlines, including Ripple’s stablecoin approval in Dubai and anticipation of a spot ETF decision from Franklin Templeton expected later this month. These developments had initially fueled optimism, but the lack of follow-through above resistance suggests momentum is stalling.
“Supportive news is being met with hesitation on the charts,” noted one derivatives trader. “Until XRP clears $2.33 with conviction, rallies are likely to be sold.”
Ripple’s continued expansion in tokenized assets and cross-border payments — particularly across Asia and the Gulf — may underpin long-term value, but for now, price action is dictating the pace.
Technical Breakdown
- XRP traded within a 5.8% range, peaking at $2.288 before falling to $2.260.
- Resistance at $2.33–$2.34 held firm through three rejections, forming a head-and-shoulders setup.
- Temporary support formed at $2.25, creating a double-bottom that triggered a modest rebound.
- Peak selling hit between 01:31–01:33, with 7M+ XRP traded.
- Bounce began at 01:53 but was undercut by declining volume — a red flag for bulls.
- A confirmed breakdown below $2.25 could open downside toward $2.234.
With ETF speculation cooling and resistance firm, XRP faces a technical test. For traders, the $2.25 level is now the key pivot — hold it, and the uptrend may resume; lose it, and the door opens to deeper retracement.
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