XRPAlthough it fluctuated in a narrow range on the second trading day of the week, it gave upward signals by holding on to the $ 2.38 region with the support of corporate purchases. While internal blockchain data shows that the XRP balance on exchanges has fallen by 3.36 percent since the beginning of October, this decline has strengthened the long-term accumulation trend.
Consolidation Strengthens with the Support of Corporate Acquisitions
XRP has been operating in a narrow price range for some time, trading in the $2.38–$2.41 band. Intraday volume reached 79.86 million units, nearly 94 percent above the 24-hour average. Volume growth confirmed increased institutional participation in the support test. It was observed that large wallets made purchases during the period when individual investor interest remained low.
The price chart reveals that the price quickly recovered from the $2.38 level with each decline and higher lows were formed. This points to a controlled accumulation process. Repeated pullbacks from the $2.43 level indicate that short-term momentum remains limited. The fact that volume increases are especially concentrated in support areas proves that the market is guided by strong hands.
Technical Outlook: Breakout Signal Approaching
XRP price It continues to maintain its ascending channel formation. While the $2.38–2.39 range stands out as critical structural support, the $2.43 level is the upper limit of the consolidation range. The number of open positions in futures transactions decreased by 1.4 percent and transaction volumes decreased by 24 percent on a daily basis. The decrease in the funding rate to -0.0007 indicates that short positions have increased in the derivatives market. On the other hand, within Blockchain XRP balancesThe decrease in the price stands out as a strong data indicating that the supply pressure has eased.
The most critical threshold for investors is whether the price can hold above $2.38. While maintaining this level confirms that the accumulation process is continuing, there is a potential for the price to rise to $2.65 if the $2.43-$2.48 range is broken. On the contrary, if it falls below $ 2.38, there may be a risk of retreating towards the $ 1.96 support. Analysts are of the opinion that if the volume rises above 80 million again, it may trigger an upward break.
