Peter Smith
XRP bounced back from early lows to close near $3.22, showing solid recovery momentum despite market uncertainty. Heavy afternoon volumes and institutional buying suggest the rally could continue.
XRP Price Shows Strong Recovery Despite Early Dip
XRP had a pretty decent day yesterday, gaining 1.3% over 24 hours and closing at $3.22. Things started rough with the token dropping to $3.16 early in the session, but buyers stepped in quickly and pushed it back up. The recovery was impressive, especially considering how shaky the broader crypto market has been lately.
What really caught traders' attention was the volume surge in the afternoon. We saw massive spikes of 81.78M and 69.06M at 4 PM and 5 PM - way above the usual 38.25M average. When you see volume like that during a bounce, it usually means bigger players are accumulating. XRP managed to hold support at $3.16 through multiple tests, which is always a good sign for bulls.
The market's still dealing with ETF drama and liquidation fears, but XRP seems to be shrugging it off. The ongoing narrative around cross-border payments and DeFi integration keeps giving the token some fundamental backing, even when sentiment gets rough.
Technical Setup Points to Potential XRP Price Breakout
From a chart perspective, XRP formed a nice ascending channel throughout the day, printing higher lows from $3.16 all the way up to $3.22. That's textbook bullish action - the market basically refused to accept lower prices.
The $3.23 level has been acting as resistance, capping several attempts to break higher. But here's the thing - that final hour bounce from $3.20 to $3.22 came with serious volume. We're talking 2.11M at 8:02 PM and 1.97M at 8:08 PM. That's institutional money moving, not retail FOMO.
For XRP to really take off, it needs to break and hold above $3.23. If that happens, the next target zone sits around $3.25-$3.30, where things could get interesting.
What's Next for XRP Price Action
The big question now is whether XRP can stay above $3.20 while the broader market sorts itself out. This level proved solid yesterday with multiple successful defenses, so bulls are watching it closely.
Traders want to see follow-through volume if XRP makes another run at $3.25-$3.30. The institutional flow we saw during yesterday's recovery needs to continue - that's what separates real moves from fake-outs. Technical guys are eyeing that ascending channel breakout above $3.23, which could open the door to $3.30 and beyond.
Bottom line: XRP's showing some real strength here with higher lows, solid volume, and institutional interest. The setup looks promising, but it still needs to prove itself above that $3.23 resistance to really get momentum going.
Peter Smith
