XRP (XRP) Remains Anchored Around the $2.35 Mark as Bears Avert $3.00 Breakout

XRP price has delivered notable gains over the past week, largely driven by the US Securities and Exchange Commission (SEC)’s decision to drop charges against Ripple.

Despite a strong start to the week, Ripple (XRP) price has stalled at key resistance levels, leading to a slight decline on Thursday.

Many expected a sharp correction following Monday’s 10% rally, assuming large investors would trigger a “sell-the-news” event. However, sustained bullish sentiment, coupled with fresh volatility from Trump’s 25% auto tariff announcement, has helped XRP maintain stability.

This is evident in the minimal intraday price change, with XRP remaining anchored around the $2.35 mark for most of Thursday.

While spot market sentiment has remained optimistic, XRP derivatives data signal stiff resistance clusters that could impede further price gains.

As of the last update, XRP is trading hands at $2.34. A brief dip to $2.30 triggered some recovery, suggesting strong buying support at current levels.

Further analysis of market data from CoinMarketCap reveals a significant concentration of short-leverage positions at $2.60.

Over the past 30 days, traders have deployed nearly $400 million in leveraged positions, with bears holding a 30% edge over bulls.

The most substantial cluster of these short positions, amounting to $244 million, is evident at the $2.60 price point.

This persistent selling pressure may explain why XRP has struggled to breach the $2.60 resistance despite strong fundamental catalysts, such as the SEC dropping its case against Ripple and the potential for Trump’s administration to impose 25% tariffs on U.S. auto production.

Whenever XRP price approaches $2.60, an influx of sell orders from leveraged short positions forces a retracement, effectively capping bullish momentum.

Only when these short positions are liquidated or bulls muster enough demand to absorb selling pressure at $2.60 can XRP break free and continue rallying towards the $3 handle. Otherwise, further attempts to break $2.60 will likely be met with the same resistance.

factor

The above is the detailed content of XRP (XRP) Remains Anchored Around the $2.35 Mark as Bears Avert $3.00 Breakout. For more information, please follow other related articles on the PHP Chinese website!