XRP has bounced back with a strong two-week move, recovering from a long stretch of losses. The price sits near $2.34 at press time, with a weekly gain of over 25%.
Meanwhile, trading volume is over $8.5 billion, and XRP now has a market cap of $142 billion. It remains the fourth-largest cryptocurrency by value.
Price Recovers from Key Support
The rally began after the token tested support near the $2 level, an area that held firm throughout last year. Buyers stepped in, and the price quickly climbed, undoing seven weeks of losses. It is now testing the $2.34 to $2.4 zone, with short-term momentum still in place.
ChartNerdTA called the move a full recovery, saying it has taken out the “last 7 weeks of downside PA.” The move has also cleared several technical hurdles, putting $2.5 in focus as the next potential test. If broken, traders may look toward $2.75 as the next level.
CryptoWZRD said XRPBTC has been driving the move and sees resistance around $2.27. They added, “A retest of $2.28 with a reversal could offer a long,” while also noting that a failure to hold could lead to range-bound movement.
In addition, traders are now watching the $2.41 level. Steph Is Crypto noted that this area represents a “cost-basis wall,” where about 1.56 billion XRP were previously bought. Moves into such zones often face selling from holders looking to exit at break-even.
John Bollinger shared 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 pointed to the lack of tight consolidation before the move, which can make price action less stable.
ETF Flows and Supply on Exchanges
Spot XRP ETFs in the US posted over $46 million in inflows on Monday. These products have not seen a single day of outflows since their launch in mid-November. The steady inflows reflect demand from institutional buyers.
XRP Spot ETF Inflows, Source: SoSoValue
At the same time, the exchange supply has been thinning. Fewer tokens available on exchanges may support the price if demand continues. Traders now wait to see if XRP can break and hold above the $2.5 mark or if selling pressure builds near current levels.
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