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XRP Trades Higher on Big Flows, Yet Technical Setup Signals Caution

coindesk.com

14 hour ago

XRP Trades Higher on Big Flows, Yet Technical Setup Signals Caution

XRP advanced modestly as trading activity spiked, though momentum indicators warn of near-term consolidation risk. News Background XRP climbed 0.60% to $2.623 while trading volume surged about 47% above its seven-day average, indicating increased institutional interest amid a lack of strong breakout catalysts. The token still faces resistance from a rejection near $2.68 and multiple analysts caution that while bullish chart patterns exist, the recent momentum may be capped. Price Action Summary Over the session, XRP traded in an $0.11 range, oscillating between ~$2.64 and ~$2.62. A peak volume of ~167.3 million tokens (≈140% above the 24-hour average) was recorded during the failed breakout near $2.68 resistance. The $2.60 psychological support level held firm through several tests. This price action reflects controlled accumulation rather than a full breakout run. Technical Analysis The breakout attempt above $2.68 was rejected, confirming that resistance remains stiff. The support zone at ~$2.60 has demonstrated resilience, yet momentum indicators—such as the TD Sequential—have triggered caution signals. Chart structure shows consolidation between $2.60 and $2.67, which may form the base of a future move but also warns of possible short-term pause. Volume surge validates interest but the lack of a clean breakout suggests the move is still in setup mode. What Traders Should Know Traders should monitor whether XRP can hold the support band around $2.60-$2.63. A sustained close above $2.65 coupled with renewed volume would tilt the bias bullish and open targets near $2.70-$2.90. Conversely, a break below ~$2.60 would expose a retest of ~$2.55 or lower. The upcoming ETF decision window and institutional inflows remain key catalysts to watch.

https://www.coindesk.com/markets/2025/10/29/xrp-trades-higher-on-big-flows-yet-technical-setup-signals-caution?utm_source=CryptoNews&utm_medium=app