XRP Consolidates at $2.85 After Profit-Taking and ETF Hopes
- XRP traded in a narrow range of $0.09, reaching a peak of $2.91 before profit-taking pushed it back.
- Buyers supported the price between $2.82 and $2.84, closing at $2.85 with declining volume.
- Over two days, XRP experienced inflows exceeding $6 billion due to treasury adoption.
- Binance reported a significant increase in reserves by nearly 19%, despite no corporate buy orders.
- Technical analysis indicated resistance at $2.91 and support at the $2.82–$2.84 range.
XRP’s recent trading patterns reflect cautious sentiment among traders as regulatory scrutiny increases and profit-taking occurs following significant inflows from treasury adoption.
The token closed near $2.85 after aggressive buying earlier in the session, highlighting the impact of market dynamics on its price movements.(Source)
