XRP News Today: XRP Struggles Below $2.6 Despite 300% 2024 Gain

XRP, the cryptocurrency associated with Ripple, has been trading within a tight range below $2.6 since the beginning of the second quarter of 2025. Despite a 300% gain in 2024, XRP has struggled to break above this level, consolidating between $2.0 and $2.6. The flat trading volume, as indicated by the On Balance Volume (OBV), has reinforced this sideways structure.

In May, bulls attempted to push XRP above $2.6, which also served as a mid-range level and supply zone. However, this attempt was met with resistance, and XRP was pulled back below the 200-day Simple Moving Average (SMA). On the 4-hour chart, XRP has struggled to clear the $2.3 level in June, making it a key short-term supply zone before bulls could target $2.6. A 7% surge on June 30th was rejected at $2.3, but the pullback could find support at $2.16-$2.19 or $2.0. The 4-hour chart OBV being below June resistance suggests that a jump above $2.3 could require a strong catalyst.

Despite the tight range, there has been significant movement of XRP tokens from exchanges. According to Glassnode data, the supply of XRP on centralized exchanges has decreased from 4.4 billion to 3.3 billion tokens since October 2024, indicating a withdrawal of over 1 billion XRP. This reduction in exchange supply sets the stage for a potential rally if a strong catalyst emerges.

The Liquidation Heatmap also suggests that short-term pullbacks could find support at $2.1 or $2.0, where there are relative liquidity pools of leveraged longs that could act as price magnets. XRP has been trading within the $2.0-$3.4 range for over six months and could continue this pattern into the third quarter of 2025 unless a significant catalyst emerges. In the near term, pullbacks to $2.0 could present buying opportunities if the range remains intact.

Looking ahead, the potential closure of the SEC lawsuit and high expectations for Exchange-Traded Funds (ETFs) could provide the necessary catalyst for XRP to surge above $2.6 in the third quarter of 2025. However, the price of XRP remains subject to various factors, including regulatory developments and market sentiment. Investors should exercise caution and conduct thorough research before making investment decisions.