XRP Sell Pressure Emerges as Ripple-Linked Token Fails to Sustain USD 2.12 Break
XRP briefly reached $2.17 but failed to sustain above the $2.12 level, indicating strong resistance and potential distribution among holders. Despite trading volume rising about 38% above weekly norms due to significant institutional activity, XRP underperformed the broader cryptocurrency market. The price's move through $2.12 and touch to $2.17 did not gain conviction, suggesting that large holders may be unwinding positions rather than accumulating.
Key resistance remains at $2.12; a clean reclaim of $2.17 with robust volume is required to validate a rally. Technical patterns reveal a wide trading range between $2.083 and $2.17, with heavy sell-side liquidity deployment above $2.12. There were 189.7 million XRP tokens traded during the breakout attempt. The session indicates controlled distribution, characterized by strong volume on advances but weak follow-through and persistent selling above $2.12.
The near-term outlook suggests that a break below $2.09 could open supports at $2.05 and $2.00. On the upside, XRP must reclaim $2.12 and subsequently $2.17 with volume for a sustained rally. Institutional activity appears focused on liquidity harvesting during volatility rather than building directional exposure. If broader crypto market strength persists, XRP may lag as overhead supply clears. Investors should watch for narrowing price ranges and declining volume as potential signs of accumulation returning.
