XRP News Today: XRP Rebounds 6% After Sharp Sell-Off, Eyes $2.09 Resistance

XRP, the Ripple-related token, experienced a significant rebound after a sharp sell-off, climbing 6% and forming a bullish ascending channel above the key support level of $2.04. The asset initially dropped to $2.011 during the 21:00 hour but quickly stabilized and recovered, indicating strong buyer control.

Traders are now closely monitoring XRP's upward pressure near the $2.09 resistance line. The token's ability to establish a new higher low and break through this resistance with volume confirmation could signal a potential breakout. This is particularly important given the current global economic uncertainty, which has weighed on risk assets and triggered liquidations across key tokens.

Despite the volatility, XRP's on-chain and technical metrics have remained robust. The token continues to benefit from institutional narratives surrounding a potential spot ETF approval and Ripple’s global payments expansion. Analysts are focusing on XRP’s potential to set the stage for a breakout if it can breach the $2.09 resistance level with sufficient volume.

XRP's price action over the last 24 hours was marked by a 6.33% range, sliding from $2.147 to $2.011 during a sharp sell-off. Volume during this period spiked to over 163 million units, confirming intense downward pressure. However, the asset then recovered steadily, forming a higher low at $2.042 before pushing up to $2.083. In the final hour, XRP climbed from $2.078 to $2.089, marking the session’s high on a strong 1.38M volume burst at 06:20. This price action has formed a short-term ascending channel, with higher lows observed at $2.079, $2.082, and $2.083.

Technical indicators also support a bullish outlook. The MACD is crossing into positive territory, and the RSI is neutral at around 54, suggesting that conditions favor a continuation if resistance is cleared. Buyers have consistently defended the $2.082–$2.083 range on minor pullbacks, signaling accumulation and potential for further gains.