XRP Price News: Pulls Back From $2.27 Peak Yet Maintains Uptrend Structure Above $2.15
XRP fell from its $2.27 peak, breaking below $2.20 support, but consolidation above the critical $2.15 pivot suggests a potential bounce.Summary
XRP experienced a sharp 4.96% decline from its $2.27 peak, breaking the crucial $2.20 support level despite the launch of multiple new institutional XRP ETFs, which saw initial strong inflows exceeding $245 million. The selloff, validated by a 54.56% surge in trading volume, was attributed to broader crypto market weakness, particularly Bitcoin volatility, which overpowered the positive impact of new institutional access. Technically, XRP broke its short-term bullish structure, falling to an intraday low of $2.11 before recovering slightly. A bearish pennant is forming between the $2.155 support and descending resistance around $2.18, indicating market indecision. Traders must watch the $2.15 pivot; holding this level could lead to a bounce toward $2.28, but a break below signals a potential rapid decline toward $1.98 support.
(Source：CoinDesk)