XRP held its ground this week while stocks fell, and that resilience is now drawing attention. The token is trading near $1.27, up 1.9% in 24 hours, and some traders are watching for a breakout above $1.29 in the near term. According to an analyst, the signs have improved since earlier in the week. A drop to $1.17 is still possible, though.
Buyers Are Soaking Up The Selling
The main signal is what traders call absorption. Over the past day:
- Selling pressure rose in both spot and futures markets, measured by cumulative volume delta (CVD)
- XRP’s price held steady anyway
- The token kept its lows even as US stocks slid early in the week and overnight
When prices hold while selling increases, it usually means buyers are quietly taking in the supply. That is often an early sign of strength.
Macro Conditions Have Improved
The broader backdrop has also turned more supportive:
- US stocks have bounced and are showing early signs of bottoming
- Oil prices have dropped sharply
- The VIX volatility index is falling
With those conditions in place, XRP now looks more likely to reclaim $1.29 than to fall to $1.17, according to the same outlook.
What The Short-Term Chart Shows
XRP dipped sharply overnight into last week’s value area low, the bottom of the price range where most trading happened. Buyers stepped in quickly. The token then broke above its 7-day rolling volume-weighted average price (VWAP) and is now testing last week’s VWAP.
Funding rates have climbed, which can sometimes signal too many bullish bets. The order flow, however, does not look bearish.
XRP Price Levels To Watch
- Stability zone: $1.26 to $1.27, where XRP is expected to hold first
- Breakout trigger: $1.29, the low of last month’s value area
- First upside target: $1.34, if XRP breaks out with enough momentum
- Downside risk: $1.17, the low of the previous quarter’s value area
The Risk That Could Change The Picture
A move down to $1.17 cannot be ruled out. The main threat is a fresh escalation in the Middle East. If the VIX climbs back into the mid-20s, XRP could still slide toward $1.17, regardless of the US midterm election results.
What Comes Next
For now, XRP’s short-term outlook depends on whether it can close above $1.29. A sustained breakout would open the way to $1.34, and possibly higher on longer timeframes. A rejection would keep XRP stuck in its current range.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
