XRP Soars Amid Trade Disputes: Bullish Momentum Breaks Key Resistance, Setting Sights on $2.40
XRP, the native asset of the Ripple platform, has experienced a 3.6% surge over the past 24 hours, peaking at $2.33 before settling around $2.25. This price increase was fueled by buyers capitalizing on market volatility, with the token overcoming resistance at $2.21 and forming new support at $2.29. Despite a brief pullback to $2.23, the renewed bullish conviction suggests that XRP is holding up better than many of its peers amid ongoing trade disputes between the U.S. and China. The ongoing trade disputes have caused turmoil in risk assets, but XRP has shown resilience, reflecting confidence in its cross-border settlement utility. 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 that institutions are quietly accumulating, positioning for the next regulatory catalyst. Price action for XRP has been volatile, with the token trading in a wide 7.5% range from $2.177 to $2.338. Heavy buying between 11:00–16:00 powered the break above $2.21, while sellers pushed the price back to $2.23 during the 22:00–23:00 session on over 100 million units traded. However, buyers re-entered aggressively in the final hours, with a bullish burst at 01:32–01:33 lifting 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 shows that resistance has turned into support, with XRP convincingly clearing $2.21 and now testing $2.30 as the next hurdle. The new support zone of $2.246–$2.29 has been confirmed by multiple tests, and heavy volume spikes during breakouts and pullbacks suggest high conviction on both sides. The price action aligns with a Fibonacci extension off the day’s low, pointing to $2.40 if current support holds.
