XRP rebounds 25% in 2 weeks, reaching $2.34 as ETF inflows increase and traders eye key resistance levels at $2.41 and $2.5.
XRP rebounded with a strong two-week move, recovering from a long period of losses. The price sits near $2.34 at press time, with a weekly gain of over 25%.
Meanwhile, trading volume exceeds $8.5 billion and XRP now has a market capitalization of $142 billion. It remains the fourth largest cryptocurrency by value.
The price is recovered thanks to key support
The rally began after the token tested support near the $2 level, an area that remained firm throughout last year. Buyers stepped in and the price quickly rose, reversing seven weeks of losses. It is currently testing the $2.34 to $2.4 zone, with short-term momentum still in place.
ChartNerdTA called the move a complete reinstatement, saying it removed the “Last 7 weeks of PA decline.” The move also overcame several technical hurdles, putting the focus on $2.5 as the next potential test. In the event of a breakout, traders could look towards $2.75 as the next level.
CryptoWZRD said that XRPBTC led the move and sees resistance around $2.27. They added: “A retest of $2.28 with a reversal could offer a long position,” while also noting that a failure to hold could lead to limited movement.
Additionally, traders are now eyeing the $2.41 level. Steph Is Crypto noted that this area represents a “cost base wall,” where approximately 1.56 billion XRP was previously purchased. Moves to such areas are often met with sales from holders looking to exit at break-even.
John Bollinger shares a cautious view. He said the XRP chart shows a “strong lift“but argued that the pattern remains”weaker” than those of Bitcoin and Ethereum. He highlighted the lack of tight consolidation ahead of the move, which can make price action less stable.
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Flows and offerings of ETFs on exchanges
Spot XRP ETFs in the United States saw over $46 million in inflows on Monday. These products have not seen a single day of clearance since their launch in mid-November. Steady inflows reflect demand from institutional buyers.
At the same time, the foreign exchange supply is dwindling. Fewer tokens available on exchanges may support the price if demand persists. Traders are now waiting to see if XRP can break above the $2.5 mark or if selling pressure approaches current levels.
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