TLDR
- XRP price is currently trading at $2.22 and is testing a key resistance zone.
- The price action remains within a descending channel that has shaped its movement for months.
- Technical indicators show strong buying strength as the Stoch RSI signals upside momentum.
- Sellers continue defending the $2.25 and $2.60 resistance levels with quick rejections.
- A breakout above $3.13 could shift the broader trend and open the path toward $3.60.
XRP price currently tests a major resistance zone as buyers and sellers continue their standoff. The value sits at $2.22, directly under the channel’s upper boundary. Momentum grows as technical indicators show bullish pressure at this level.
The XRP price action remains inside a long-term descending channel. However, it now presses firmly against its upper limit. Buyers maintain control near reclaimed support, while sellers defend overhead resistance.
The Stoch RSI %K line reads 97.56 while the %D line stays at 90.06, indicating intense buying strength. This setup often supports upward continuation when it forms near key structural points. XRP price has responded with pressure near the $2.22 level as momentum builds.
XRP Price Compresses as Sellers Hold
Sellers currently hold the line at $2.25, which acts as the nearest resistance barrier. Each attempt above this level has faced strong rejections. Yet, the XRP price structure continues tightening as pressure builds from below.
The next upside target lies at $2.60, where sellers remain active. Above that, a breakout beyond $3.13 would shift the entire structure. This move could open the path toward the $3.60 region if sustained buying follows.
The XRP price has tested the ceiling multiple times without confirmation. Still, buyers return at each dip, forming higher bases. This behavior suggests that the market prepares for a decisive reaction soon.
Falling exchange reserves tighten supply conditions
Binance’s XRP reserves have declined to 2.7 billion, down from nearly 3 billion earlier. Since October, 300 million XRP have left the platform. The steady drain reduces near-term selling pressure.
Withdrawals indicate users are choosing long-term storage over trading. This move lowers the available supply on the books. It also creates cleaner price reactions near support and resistance areas.
Structured investment routes like ETFs add another dynamic. These channels help facilitate larger institutional participation in XRP markets. As access increases, many holders remove coins from exchanges for secure custody.
Lower exchange reserves help reduce volatility around major chart levels. The current XRP price setup benefits from these tightening conditions. It allows price to stabilize as technical patterns evolve.
The XRP price continues to attract attention as it tests an important chart zone with shrinking supply conditions across platforms.
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Source: https://blockonomi.com/is-xrp-price-set-for-a-rally-as-binance-reserves-keep-falling/