XRP Swings Sharply Amid Market Turbulence, Shows Signs of Strength
XRP experienced significant price swings, trading as low as $2.07 before rallying to around $2.20, marking a 7% gain over 24 hours. The intense volatility was accompanied by a surge in trading volume, with an hour seeing nearly 229 million XRP changing hands — well above the daily average.
Market optimism is supported by Ripple’s recent regulatory win with the RLUSD stablecoin in Dubai, alongside growing anticipation for the Franklin Templeton spot XRP ETF decision expected mid-June. These developments are fostering hopes for renewed institutional demand.
Despite ongoing pressure from a broad market downturn, XRP maintains a foothold above its 200-day moving average, signaling potential resilience. Resistance levels near $2.50 to $2.60 remain a hurdle for further upside.
Technically, XRP is establishing a higher low pattern and consolidating within a symmetrical triangle, a formation that often precedes a decisive price move. Traders are closely watching volume trends for clues on the next breakout direction.
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