Cryptonews
EN

XRP Edges Higher to $2.43 as Volume Surges Above Weekly Average

coindesk.com

6 hour ago

XRP Edges Higher to $2.43 as Volume Surges Above Weekly Average

XRP posts a modest gain amid a clear uptick in trading activity, suggesting professional positioning ahead of critical resistance zones. News Background XRP climbed 0.7% over the past 24 hours, closing near $2.43 as volume spiked 12% above its weekly average. The subdued price action comes as broader crypto markets consolidate following bitcoin’s steady rise and easing volatility in equities. Analysts said the uptick in XRP trading reflects renewed institutional flows ahead of the SEC’s pending ETF decisions and Ripple’s ongoing capital raise. Despite the limited advance, traders noted that volume-led accumulation phases often precede directional expansion, particularly when price holds firm under resistance. Price Action Summary The token traded within a $0.13 band between $2.41 and $2.54 during the October 21–22 session, testing intraday highs before slipping back into consolidation. Volume reached 155.8 million tokens — well above the seven-day average — confirming meaningful participation at current price levels. Peak activity occurred between 14:00 and 16:00 GMT, overlapping with institutional trading hours, where large buy orders lifted XRP above the $2.42 threshold and established higher lows near $2.40. Price stabilized in the $2.41–$2.43 zone into the close, forming a narrow base that traders interpret as preparatory accumulation. Technical Analysis Short-term structure remains constructive. A series of higher lows from the $2.40 base and repeated defenses of the $2.41–$2.42 support corridor underline steady demand. Resistance sits near $2.45 and then $2.50 — the upper boundary of the recent range. Volume expansion amid muted price gains typically reflects institutional buildup, though failure to extend above $2.45 could trigger near-term retracement toward $2.40. RSI readings hover near neutral, suggesting room for continuation if buyers sustain engagement above $2.42. What Traders Are Watching • Whether the $2.42 floor continues to attract institutional bids.• Potential breakout through $2.45–$2.50 to confirm bullish continuation.• ETF-related developments or Ripple fundraising updates as sentiment catalysts.• Broader cross-asset tone — bitcoin’s drift higher and gold’s weakness remain key directional cues.

https://www.coindesk.com/markets/2025/10/22/xrp-edges-higher-to-usd2-43-as-volume-surges-above-weekly-average?utm_source=CryptoNews&utm_medium=app