XRP Price News: Sell Pressure Sees Ripple Linked Token Fails to Sustain $2.12 Break
XRP failed to sustain its $2.12 break, hitting $2.17 before reversing, suggesting large holders are distributing rather than accumulating.Summary
XRP experienced a surge in trading volume, nearly 38% above weekly norms, driven by heavy institutional activity, yet it underperformed the broader crypto market. Despite briefly reaching $2.17 after piercing the $2.12 resistance level, XRP sharply reversed, indicating that large holders likely used this liquidity window to unwind positions rather than accumulate. This failure confirms $2.12 as entrenched resistance, with the token now consolidating in a range between $2.083 and $2.17. Technical analysis suggests a neutral-to-bearish bias until XRP can demonstrate conviction by breaking $2.17 with validated volume, as current institutional participation appears geared toward liquidity harvesting during volatility spikes rather than building directional exposure.
(Source：CoinDesk)