TL;DR
- XRP dropped 6% before rebounding to $2.089, forming a short-term ascending channel.
- Buyers defended key support at $2.042, signaling renewed market confidence.
- Resistance sits near $2.09, with analysts watching for a volume-backed breakout.
- On-chain strength and ETF speculation continue to support XRP’s bullish bias.
Volatility Shakes XRP, But Bulls Return
Ripple’s XRP saw a sharp decline on June 21, falling more than 6% intraday from $2.147 to a session low of $2.011. The drop coincided with global macro pressures, including escalating trade tensions and ongoing monetary tightening by central banks.
Despite the turbulence, technical indicators and on-chain data showed resilience. XRP quickly stabilized above $2.04 and formed a series of higher lows, suggesting a bullish ascending channel in early formation.
Key Price Action and Structure
The most intense selling occurred during the 21:00 hour, with volume spiking above 163 million XRP, pushing the price to $2.011. However, strong buying interest reversed the downtrend. XRP regained momentum, reaching $2.089 on a sharp 1.38 million volume burst by 06:20 the next morning.
Recent price action has confirmed the formation of a short-term ascending channel:
- Support holds at $2.011–$2.042
- Resistance zone at $2.089–$2.090
- Higher lows at $2.079, $2.082, $2.083 show buyer strength
The MACD has flipped into positive territory, while the RSI stands at ~54 — both suggesting conditions favor a continuation move if XRP can breach $2.09 with volume support.
Market Context: Fragile Yet Bullish
Wider crypto markets remain under pressure due to uncertain macroeconomic developments. However, XRP’s case is bolstered by a few unique drivers:
- Speculation surrounding an XRP ETF, fueled by Ripple’s U.S. legal momentum
- RippleNet’s global expansion, which has strengthened institutional interest
- Steady wallet inflow and consistent active address growth
These fundamental factors, coupled with a bullish technical backdrop, present XRP as a potential short-term outperformer, especially if market sentiment turns risk-on.
Whale Behavior and On-Chain Metrics
According to Whale Alert and Santiment, large XRP holders increased their accumulation activity during the dip, with significant wallet clustering observed between $2.02–$2.04. This zone now forms the primary support floor.
Additionally, XRP saw increased wallet activation, while exchange outflows hinted at accumulation over distribution, adding weight to the bullish thesis.
XRP Technical Rebound
| Metric | Details & Sources |
| Intraday Range | $2.147 → $2.011 (CoinDesk) |
| Capitulation Volume | 163M XRP at 21:00 hour (CoinGlass) |
| Recovery High | $2.089 at 06:20 with 1.38M volume (TradingView) |
| Ascending Channel | Higher lows at $2.079, $2.082, $2.083 (Investopedia) |
| MACD Signal | Turning positive (FXStreet) |
| RSI Level | Neutral at ~54 (BabyPips) |
| Whale Accumulation Zone | $2.02–$2.04 (Whale Alert) |
Analyst View: Crucial Resistance Test Ahead
XRP’s short-term direction now hinges on a break above $2.09, which would likely trigger momentum buyers and algorithmic entries. Analysts are looking for a volume-backed breakout, without which XRP could retest support levels in the $2.04 zone.
The current ascending channel reflects accumulation. However, if macro shocks persist—such as a repeat of sudden geopolitical events—momentum may stall again.
Technical Recap and Future Scenarios
XRP’s price structure over the last 24 hours suggests a bullish short-term outlook, especially if the following levels are respected:
- Breakout Zone: Close above $2.090 confirms bullish continuation
- Critical Support: $2.042 and $2.011 serve as key reversal safeguards
- Volume Confirmation: Needed above 1.2M per hour to validate breakout attempts
Momentum indicators, particularly the MACD crossover and a rising RSI, suggest energy building for a breakout — but only if macro headwinds don’t worsen.
Conclusion
XRP has recovered impressively after a volatile intraday drop, forming a bullish ascending channel that signals renewed interest among buyers. On-chain signals, whale behavior, and steady support above $2.04 all point toward accumulation.
If the token can break through $2.09 resistance with strong volume, a rally toward $2.12 or higher is possible in the near term. In a fragile macro environment, however, risk management remains key for traders betting on continuation.
