XRP Reclaims $2 After Dip—Is a Bigger Breakout Coming?

3 mins mins

23 June 2025, 14:46:55 GMT +0000

Key Points:

XRP rebounds to $2.03 after hitting $1.91, holding key support despite weekend market sell-off.
XRP trading volume spikes 62%, signaling trader repositioning during $1.01B in crypto liquidations.
Analyst Peter Brandt sees potential H&S pattern, but warns confirmation requires close below $1.87.

On Black 9 — XRP Reclaims $2 After Dip—Is a Bigger Breakout Coming?

XRP is back above the $2.00 support level after a weekend of sharp volatility across the crypto market. The token dropped to a low of $1.91, then recovered to a high of $2.04 within 24 hours. At the time of writing, the XRP price stands at $2.03, showing a 3.35% daily gain, though still down 10.06% over the past week.

Increased selling pressure hit XRP as global tensions grew over the weekend, pushing it to a multi-month low. However, support around $1.87 to $1.91 held, with the market seeing a strong response from buyers in early Monday trading.

XRP Trading Volume Surges as Market Repositions

XRP’s 24-hour trading volume surged by 62%, reaching over $5.12 billion, indicating heightened market activity. This increase suggests that traders are repositioning in response to price swings, possibly preparing for another move.

Over the weekend, $1.01 billion in crypto liquidations took place, with XRP contributing $656 million. Of that, bullish traders lost $472 million, while short liquidations totaled $155 million. Despite the losses, XRP held its support and did not post a new low, a key detail for market watchers.

Geopolitical Risks Pressure XRP Price and Crypto Market

The latest XRP price movements came alongside broader market declines due to renewed geopolitical risk. The U.S. military’s involvement in the Israel–Iran conflict added uncertainty, pushing Bitcoin below $100,000 and dragging major altcoins, including XRP, down.

Early reactions to rising oil prices and global tension have pushed many investors to reduce exposure to crypto. The XRP price stabilized after dipping, but market sentiment remains cautious as events unfold.

XRP Price Chart Shows Key Support Holding for Now

Veteran analyst Peter Brandt pointed to a possible Head and Shoulders pattern forming on the XRP chart. He noted that the April 7 spike should be treated as an “out-of-line movement” and excluded from the pattern.

Brandt added, “This chart need NOT be interpreted as bearish”, explaining that the setup remains neutral unless price closes below $1.87. A confirmed break could shift price toward $1.40–$1.50, while a move above $2.20–$2.40 would suggest strength or consolidation.

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The 18-week moving average currently sits just under the price, and the ADX at 16.41 signals weak trend strength. XRP remains in a technical balance, with its next move likely defined by broader market stability and buying pressure around $2.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.