XRP Price Watch: Bulls Circle as XRP Eyes Breakout Above $2.20

XRP is trading at $2.18 at 5 p.m. Eastern time, with a total market capitalization of $128 billion and a 24-hour trading volume of $1.77 billion. Price action has fluctuated within a tight intraday range of $2.14 to $2.189, signaling cautious optimism amid macro and micro market movements.

XRP

In the 1-hour chart, XRP is demonstrating a short-term recovery from a recent dip, climbing gradually from $2.124 to $2.18. The increase in bullish candlesticks with higher lows indicates that buyers are stepping in, particularly evident from the heightened volume near the lower price points—suggesting accumulation by institutional participants or experienced traders. A key pullback entry zone lies between $2.16 and $2.165. This microstructure reflects a bullish setup that requires confirmation to extend gains further.

XRP/USDC via Binance on June 2, 2025. 1-hour chart.

Zooming out to the 4-hour chart, XRP appears to be stabilizing after rebounding from support near $2.08. It now trades in a narrow range around $2.15 to $2.18, supported by a noticeable volume spike at the recent dip, hinting at strategic accumulation. The emerging mini ascending triangle pattern could favor the bulls, provided there is a breakout above the $2.185 to $2.19 threshold, supported by substantial volume. A successful move could propel prices to immediate targets of $2.22, followed by a possible $2.30.

XRP/USDC via Binance on June 2, 2025. 4-hour chart.

From a broader daily chart perspective, XRP has been in a defined downtrend since peaking at $2.656, with a recent bounce from the $2.10 level. Volume trends remain weak during this sideways phase, limiting bullish momentum. Support has been validated twice around $2.08–$2.10, while resistance looms between $2.30–$2.35, where multiple rejections have occurred. The structure resembles a bear flag unless buyers push the price decisively above $2.30.

XRP/USDC via Binance on June 2, 2025. 1-day chart.

On the oscillator front, sentiment is mixed. The relative strength index at 41.31 suggests neutral momentum, while the Stochastic oscillator at 24.41 also supports a neutral stance. However, the commodity channel index stands at −135.43, signaling a potential bullish opportunity from oversold conditions. The momentum indicator at −0.11576 also issues a positive outlook, whereas the moving average convergence divergence (MACD) at −0.03152 leans bearish. The average directional index (ADX 14) at 17.95 and the Awesome oscillator at −0.11999 remain neutral, highlighting the indecisiveness in the current price momentum.

As for moving averages (MAs), all short- to mid-term indicators—ranging from the exponential moving average (EMA 10) at $2.23772 to the simple moving average (SMA 100) at $2.25650—are flashing bearish signals. This reflects persistent negative pressure, corroborated by higher timeframe averages. Notably, only the EMA 200 at $2.07677 suggests things may be still bullish, implying long-term support remains intact despite near-term weakness. The overall picture favors extreme caution unless XRP can reclaim higher resistance levels with conviction and increased trading volume.

Bull Verdict:

If XRP breaks above the $2.19–$2.20 resistance with volume confirmation, the technical structure across all timeframes supports a bullish continuation. Accumulation patterns, ascending triangle formations, and favorable long-term support levels suggest a possible retest of $2.30 and potentially $2.50 in the coming sessions, contingent on sustained buying momentum.

Bear Verdict:

Without a decisive breakout above $2.20 and given the prevailing sell signals across most moving averages and the bearish MACD, XRP risks further consolidation or downside. A failure to hold the $2.14–$2.15 range could expose the asset to a retest of the $2.08 support zone, with limited upside unless broader market sentiment shifts.

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