XRP demonstrated resilience on Friday, recovering from an early dip to $2.19 to hold key support levels as large-volume buyers absorbed significant selling pressure. The rebound occurred amid a cautious market sentiment, influenced by renewed U.S.–China trade tensions and anticipation of upcoming SEC deadlines for spot XRP ETF applications.
The digital asset traded within a 7% range, oscillating between $2.19 and $2.35. The session’s low was established at 07:00 UTC during a period of intense selling, where trading volume surged to 246.7 million—nearly triple the 24-hour average. Despite this sharp drawdown, the price stabilized quickly and embarked on a steady climb, settling at $2.33 for a 1% gain from the session open.
This price action unfolded as the broader cryptocurrency market capitalization fell by 6% to $3.5 trillion, with investors moving away from riskier assets. However, confidence in XRP was supported by Ripple’s ongoing $1 billion fundraising initiative for its treasury division. Analysts characterized the market activity as a “controlled rotation” rather than a sign of structural weakness. By the end of the session, XRP consolidated between $2.32 and $2.34, forming a new short-term base.
From a technical standpoint, the $2.23–$2.25 zone has emerged as a key area for accumulation, while any dips below $2.20 continue to attract strong buying interest. Immediate resistance is located in the $2.35–$2.38 band, with a sustained break above $2.40 needed to confirm a bullish continuation. While technical indicators like the RSI are neutral, the stabilization suggests a period of reaccumulation may be underway.
Looking ahead, traders are closely monitoring the SEC’s review of six pending spot XRP ETF filings, with decisions expected by October 25. The outcome is a major potential catalyst for the market. Other key factors include whether XRP can maintain $2.30 as a support level through the weekend, the market implications of Ripple’s treasury raise, and the impact of broader risk sentiment tied to global trade rhetoric.
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