XRP is showing renewed momentum this week, potentially approaching key resistance levels between $2.80 and $3, as traders and investors closely watch potential bullish signals and institutional interest.
The cryptocurrency has steadily recovered from recent dips, gaining roughly 5.8% over the past week. Analysts highlight that XRP’s price action near these resistance levels could determine whether a breakout occurs or consolidation continues. With both technical indicators and market speculation drawing attention, investors are increasingly focused on XRP’s short-term trajectory.
Technical Resistance and Support Levels
According to trading signals provider Ali (@ali_charts), XRP faces resistance between $2.80 and $3, identified through a Glassnode heatmap that highlights dense cost basis clusters. These clusters indicate areas where holders might sell to break even or realize profits.
For XRP, key resistance lies between $2.80 and $3, with support firmly at $2.15. Source: Ali Martinez
Meanwhile, support remains near $2.15, representing a sparse distribution zone below XRP’s recent price of approximately $2.53. Ali notes that this level could attract buyers during market dips, providing a foundation for potential upward momentum.
“The resistance at $2.80–$3 marks a crucial zone where profit-taking could intensify, while support at $2.15 may act as a buffer for short-term buyers,” Ali commented.
Bullish Momentum and Patterns
XRP’s daily chart shows signs of bullish momentum, with an inverse head-and-shoulders pattern forming. Technical analysts suggest that if XRP breaks above the $2.70–$2.75 range and maintains this momentum, the cryptocurrency could test $3.10 in the coming weeks.
XRP shows institutional accumulation, hinting at potential upside. Source: AahilForex on TradingView
However, caution is advised. Falling below the $2.30 support level could trigger a downward correction toward $2.10, highlighting the importance of monitoring XRP’s price action closely.
Institutional Accumulation Rumors
Adding to market intrigue, a rumor circulating in crypto communities suggests that the U.S. government might consider acquiring large amounts of XRP using Treasury Bills at a speculative $10,000 per token. While the claim lacks official confirmation from Ripple or federal sources, it has fueled discussions about potential institutional interest in XRP.
A rumored U.S. government plan to buy $XRP at $10,000 per token could have major global financial implications. Source: Gigitalk | John Squire via X
John Squire emphasized that “most replies to this rumor express skepticism, noting the impracticality of acquiring XRP at roughly 40 times its current price.” Despite the unverified nature of the claim, it underscores the persistent attention institutional activity draws to XRP.
XRP in the Context of the Market
While XRP gains traction, some traders are rotating capital into projects like Digitap ($TAP), which recently surged 55% following news of its Apple Pay integration. Digitap’s success highlights the broader trend of investors seeking utility-focused crypto projects alongside established tokens like XRP.
Investors are closely monitoring XRP, while new payment-focused tokens are also drawing attention due to their real-world adoption and technological integration.
Final Thoughts
This would put XRP in a very crucial phase, testing the resistance between $2.80 and $3 and support at around $2.15. The technical patterns, including the inverse head-and-shoulders formation, are suggesting more upside momentum if key levels are maintained.
XRP was trading at around 2.51, up 0.49% in the last 24 hours at press time. Source: Brave New Coin
However, market participants are advised to use caution. The speculative rumors of institutional accumulation, though attention-catching, remain unverified and, therefore, cannot be used as the only basis for making investment decisions.
Traders and investors alike will have to pay attention to the price action of XRP and general market developments to see whether it will be able to continue a rally or have short-term corrections. XRP may also continue to present trading opportunities if closely monitored with risk management as the landscape continues to develop.