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XRP Jumps as Bulls Push Through Key Resistance Levels
Amid global economic tensions, XRP breaks crucial resistance and establishes fresh support, eyeing a run toward $2.40.
Jun 17, 2025, 11:05 a.m.
What to know:
- XRP rose 3.6% in the last 24 hours, peaking at $2.33 before stabilizing around $2.25.
- The token overcame resistance at $2.21, forming new support at $2.29, indicating bullish momentum.
- Speculation about a spot XRP ETF and large trades suggest institutional accumulation.
XRP climbed 3.6% over the last 24 hours, peaking at $2.33 before settling near $2.25, as buyers capitalized on market volatility. The token overcame resistance at $2.21 and formed new support at $2.29, signaling renewed bullish conviction despite a brief pullback to $2.23.
News Background
Ongoing trade disputes between the U.S. and China continue to roil risk assets, yet XRP has held up better than many peers, reflecting confidence in its cross-border settlement utility.
STORY CONTINUES BELOW
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Recent central-bank divergences on interest rates have driven rotation into digital assets, with XRP benefiting from increased trading volume during major policy announcements.
Speculation around a spot XRP ETF, coupled with large block trades on major exchanges, suggests institutions are quietly accumulating, positioning for the next regulatory catalyst.
Price Action
- XRP traded in a wide 7.5% range from $2.177 to $2.338, driven by heavy buying between 11:00–16:00 that powered the break above $2.21.
- • After surging, sellers pushed price back to $2.23 during the 22:00–23:00 session on over 100 million units traded, establishing a temporary floor.
- • Buyers re-entered aggressively in the final hours: a bullish burst at 01:32–01:33 lifted XRP from $2.247 to $2.255 on 1.6 million units.
- • A late-session reversal broke $2.250 support, carving out new support at $2.246 as momentum held firm.
Technical Analysis Recap
- Resistance turned support: Cleared $2.21 convincingly, now testing $2.30 as the next hurdle.
- New support: $2.246–$2.29 zone confirmed by multiple tests.
- Volume profile: Heavy volume spikes during breakouts and pullbacks suggest high conviction on both sides.
- Pattern and targets: Price action aligns with a Fibonacci extension off the day’s low, pointing to $2.40 if current support holds.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Lebih untuk Anda
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
Yang perlu diketahui:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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