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Ripple Price: Key Levels to Watch Near $2.32
XRP Price– Ripple (XRP) attempted to breach the $2.3 resistance zone on July 3rd but failed to hold above it. This area aligns closely with the mid-range resistance at $2.27, a level that has acted as a ceiling since March.
Price Structure Still Bullish, But Momentum Fades
Despite the recent rejection, XRP maintains a bullish swing structure on the weekly timeframe. After its strong rally in November, the altcoin printed a higher low at $1.61, reinforcing long-term bullish potential.
However, the internal structure tells a different story. Since March, the $2.60 resistance has repeatedly pushed back bullish attempts, highlighting the market’s hesitation to break higher.
Adding to this caution is a steady drop in trading volume. The 20-week moving average has trended downward since February, suggesting a consolidation phase in play.
On-Chain Metrics Point to Mixed Signals
A notable on-chain development was the movement of over 1 billion XRP tokens off exchanges, a shift that typically signals accumulation.
However, other indicators suggest weakening activity. The On-Balance Volume (OBV) fell throughout June, reflecting reduced demand, though a mild uptick occurred in early July. Similarly, the Relative Strength Index (RSI) recently crossed above 50, indicating a potential shift toward bullish momentum.
Despite improved price structure, the XRP network shows signs of fading retail engagement.
Eyes on the $2.32 Flip
For swing traders, a successful flip of $2.32 from resistance to support may offer confirmation of a renewed bullish phase. Until then, Ripple (XRP) remains in a critical zone, with market sentiment caught between long-term optimism and short-term hesitation.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
