XRP Recovers With Higher-Low Setup Amid Market Volatility and ETF Anticipation
XRP bounced back with a 7% gain over the past day, trading near $2.20 after dipping sharply to a support zone around $2.07. This price action reflects renewed buying interest following a heavy sell-off marked by a surge in volume — 228.6 million XRP traded within a single hour, nearly double the daily average.
Investor sentiment has been buoyed by Ripple’s recent approval of its RLUSD stablecoin in Dubai, signaling growing regulatory acceptance. Additionally, market watchers are closely eyeing the pending decision on Franklin Templeton’s spot XRP ETF, due by mid-June, which could usher in increased institutional participation.
Despite persistent market fluctuations, XRP remains resilient above its 200-day moving average. Resistance is encountered in the $2.50 to $2.60 range, which has capped upward momentum so far.
Technically, the formation of a higher low indicates strengthening bullish momentum, suggesting a potential breakout as XRP consolidates within a symmetrical triangle pattern. Traders remain alert for volume shifts that could signal the next directional move.
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