XRP is trading within a tight range, moving between $2.38 and $2.49 in the last 24 hours. Despite market volatility, it stayed above the $2.38 support level. This range-bound movement indicates a period of stable consolidation, marked by steady trading volume and signs of accumulation by large investors.
At the midday session, experienced a retest of its support level at $2.40, indicating increased institutional participation. The market reacted with dip buying, which reversed losses and got the price back over $2.45. This behavior aligns with accumulation patterns, which are often related to the positioning of larger market players.
Technical indicators marked the creation of higher lows on the short-term time intervals. This trend has secured the upward channel movement of XRP, exhibiting a controlled upward bias. Nevertheless, the price action has continually encountered resistance at $2.55, limiting short-term momentum and preventing the price from breaking through the ceiling of the consolidation.
