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Market snapshot: XRP holding near $2.60 amid mixed signals
XRP is trading close to $2.60 as traders weigh a fresh technical sell alert against ongoing accumulation by large holders and optimism about potential exchange-traded fund (ETF) approvals. At press time, XRP dipped roughly 0.4% in the past 24 hours to $2.63. The token is up about 9.4% over the last seven days but remains roughly 27% below its July high of $3.65. Over the previous month, XRP has shown a net decline of about 9.4%.
Trading volume climbed 15% to $4.9 billion, signaling renewed market participation even as short-term momentum softens. CoinGlass data shows XRP open interest increased 0.42% to $4.55 billion while overall derivatives volume eased 3.18% to $8.46 billion. That combination suggests traders are trimming high-risk directional bets while keeping positions open — a common pattern that precedes consolidation and often precedes a larger directional move.
TD Sequential signals a potential short-term pause
The TD Sequential — a momentum-based tool that highlights exhaustion and possible reversals — has produced a new sell signal on XRP, according to analyst Ali Martinez. The indicator has been useful in flagging recent turning points for XRP across the last quarter, and this latest signal points to a potential cooldown after the recent rebound.
This setup implies near-term resistance around $2.70 could prove challenging unless fresh buying momentum arrives. If the sell signal plays out materially, traders may see a corrective leg that tests lower supports before bullish themes resume.
Whale activity and ETF optimism underpin longer-term case
Despite the short-term warning, large-holder behavior remains constructive. Santiment metrics indicate wallets holding between 10 million and 100 million XRP added roughly 190 million tokens in late October — an accumulation worth an estimated $505–560 million at prevailing prices. Meanwhile, addresses containing more than 10,000 XRP climbed to a record 317,500, showing steady interest from intermediate and larger stakeholders.
Market chatter around potential U.S. ETF approvals remains a key bullish catalyst. Analysts are pricing approval odds between 95% and 100% in some quarters, a decision that could channel an estimated $4–10 billion of capital into XRP-related products and broader market liquidity.
Ripple’s corporate developments also strengthen the narrative for long-term adoption. The company’s application for a U.S. national trust bank license is currently under review by the Office of the Comptroller of the Currency (OCC), with a decision expected in the coming weeks. Approval would grant Ripple access to a Federal Reserve master account and could broaden its On-Demand Liquidity (ODL) services, which are already used by more than 1,700 institutions. Ripple’s recent $1 billion acquisition of GTreasury and its announced $1 billion XRP treasury program further underscore plans to expand XRP usage in corporate finance.
Technical overview: consolidation inside a narrowing range
The daily chart shows XRP consolidating between $2.34 and $2.69. Bollinger Bands are compressing, a typical sign that volatility is contracting and that a decisive directional breakout may follow. The MACD has produced a modest bullish crossover, while the relative strength index (RSI) sits near 50, suggesting neutral momentum — neither overbought nor oversold.
XRP daily chart.
Short-term moving averages (10–30 day) are exhibiting buying pressure, yet medium-to-longer-term averages (50–100 day) remain bearish. This mixed moving-average structure points to a cautious bias: buyers are active in the short run, but broader trend confirmation will likely need a sustained push above key resistance.
Key levels and scenarios
- Bullish case: If whales continue accumulating and price clears and holds above $2.70, XRP could target $3.00 and potentially re-test July highs near $3.65. Confirmation would likely come with rising volume and improvement in derivatives metrics (increasing open interest and stable futures volume).
- Bearish case: A decisive break below $2.40 could validate the TD Sequential sell signal and drive price toward $2.20 or lower. That move would likely be accompanied by falling volumes and an uptick in liquidation activity among short-term traders.
Trading implications for traders and investors
Short-term traders should watch the $2.40–$2.70 band closely and use tight risk management given the sell signal and compressed volatility. Longer-term investors who believe in the ETF thesis and Ripple’s institutional roadmap may view dips inside the $2.30–$2.40 area as accumulation opportunities, while monitoring regulatory and institutional news that could materially shift flows.
In summary, XRP’s immediate path looks range-bound with a cautious upside bias supported by whale accumulation and ETF optimism, but the TD Sequential sell signal and mixed technicals suggest traders should expect a short-term correction or consolidation before a confident breakout can be confirmed.
Source: crypto
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