The fourth-largest cryptocurrency by market cap, XRP, has undergone a significant price correction amidst broader market sell-offs. Despite the downward trend, its 24-hour trading volume surpassed $3 billion, reflecting sustained investor interest.
Key Resistance Level Rejects XRP’s Bullish Momentum
XRP’s price fell 6.35% in 24 hours to $2.137**, marking its second consecutive day of losses. The decline followed failed attempts to breach the **daily SMA 50** resistance at **$2.19, signaling potential profit-taking or a consolidation phase after recent rallies.
👉 Why is XRP struggling to break resistance?
Trading Volume Defies Price Drop
Despite the bearish trend, XRP’s 24-hour trading volume exceeded $3 billion, per CoinMarketCap. This divergence suggests:
- Active repositioning by traders anticipating volatility.
- Strong underlying liquidity despite short-term sentiment shifts.
Technical Outlook: Critical Support Levels Ahead
With XRP now below the SMA 50 ($2.19), analysts eye these key levels:
- Immediate support: $2.02 (aligned with SMA 200).
- Liquidity rebound: XRP’s Hot Capital surged 134.9% since April 20, though still 72% below its 2024 peak.
| Metric | Value | Change (Since April 20) |
|-----------------|-----------------|-------------------------|
| Trading Volume | $3B+ | N/A |
| Hot Capital | $2.17B | +134.9% |
Macroeconomic Pressures Weigh on Crypto Markets
Broader market declines coincide with anticipation of:
- U.S. PCE inflation data (Fed’s preferred gauge).
- $328M in crypto liquidations (CoinGlass). Bitcoin and major altcoins traded lower amid risk-off sentiment.
FAQ: XRP’s Price Action Explained
Q: Why did XRP drop 6% despite high trading volume?
A: High volume during price declines often indicates seller dominance or accumulation at lower levels—key to watch for reversal signals.
Q: What’s next for XRP’s price?
A: Breaching $2.02 support** could extend losses, while reclaiming **$2.19 resistance may revive bullish momentum.
Q: How does macroeconomic data impact XRP?
A: Crypto markets increasingly react to Fed policy cues; weaker inflation data could buoy XRP alongside risk assets.
👉 Track XRP’s real-time liquidity trends
Strategic Takeaways for Traders
- Monitor SMA 200 ($2.02) as a make-or-break level.
- High volume suggests institutional or large-scale trading activity.
- Macro risks remain a headwind—align positions with upcoming data releases.
Final Note: XRP’s resilience in trading volume underscores its liquidity advantage, but price recovery hinges on broader market sentiment and technical confirmation.
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