XRP Volatility Surges as Price Tests Key Support Levels

XRP, the cryptocurrency associated with Ripple, has been experiencing significant price fluctuations, with key support levels being tested. Currently, XRP is trading at approximately $2.23, with a market capitalization of $129 billion. The 24-hour trading volume stands at $2.8 billion, indicating a high level of market activity.

Analysts have identified key resistance levels at $3.00 and $3.15, while major support is found in the $2.20 to $2.30 zone. If buying pressure sustains, XRP could aim for a retest of higher levels. However, a breakdown below $2.375 could send the price toward $2.32, with the next major support at the $2.20 zone. Technical indicators show mixed signals, suggesting a cautious approach for traders.

A decisive break below $2.26, especially with increasing volume, could trigger further downside. Conversely, XRP is approaching $2.76, which serves as a key resistance level. The price has started a fresh recovery wave from the $2.20 zone but is currently consolidating and may struggle to clear the $2.50 resistance zone.

Historical volatility of XRP stands at 10.36%, which adds to the uncertainty in the market. Traders are advised to monitor the $2.30-$2.20 support zone closely, as a breakdown could lead to further downside, potentially testing the $2.00 psychological level. The mixed signals from technical indicators suggest that both bullish and bearish scenarios are possible, depending on market sentiment and trading volume.