XRP has faced drastic downward pressure over the past 24 hours, down 5.3% despite massive whale activity and ease of geopolitical tensions.
Assets dropped from $2.21 to $2.08 for the meeting and then recovered to $2.10.
Despite the wider cryptocurrency markets trying to stabilize after the Middle East ceasefire, XRP’s momentum remains fragile, with technical resistance building at $2.17.
News background
- Market sentiment has reportedly improved slightly after former U.S. President Donald Trump helped a ceasefire between Iran and Israel, which has caused some investors to worry.
- Nevertheless, XRP is still struggling to earn recent gains as traders react to movement on large chains. Ripple transferred $439 million worth of XRP to an unknown wallet, while other whale wallets transferred $58 million to centralized exchanges, raising questions about potential allocations or internal reshuffles.
- Although these events have attracted attention, the tokens cannot recover the bearish momentum’s $2.14 resistance signal.
- Technical analysts continue to monitor XRP’s down channel pattern and expect a breakthrough or breakdown between July and September. Currently, the $2.08-$2.09 area remains a key level to maintain.
Price action
In 24 hours, XRP dropped from $2.21 to $2.10, marking a 5.3% drop in the $0.13 range. The steepest selloff occurred between 12:00 and 16:00 on June 26 UTC, with back-to-back sales exceeding 99 million XRP per hour as prices fell to $2.10. The resistance was clearly formed at $2.17, and after the meeting, there were multiple rejection wicks above $2.12.
By midnight UTC, XRP revisited its $2.08 session. In the last hour of the meeting, a modest rebound followed by as the price rose from $2.09 to $2.10, with a brief momentum rising to $2.105. The decline in numbers in late sessions indicated buyers fatigue, despite selling at $2.08 in support zone companies.
Technical analysis review
•XRP fell 5.3% from $2.21 to $2.10, with a total intraday range of $0.13
•The heaviest sales occur at 12:00–16:00 UTC in quantity over 1.14m and 99m XRP
• Strong resistance is $2.17; keys support testing at a price of $2.08 – $2.09
• Loss of recovery attempts $2.14 and $2.12, then settle at around $2.10
• The last hour showed a moderate 0.54% return from $2.09 to $2.10, and the batch rose to 930k XRP during 01:42-01:45
•Combined close to $2.10 in the last 15 minutes, indicating short-term stability
