XRP Holds Strong Above $2.38 as Institutional Accumulation Fuels Controlled Upside Momentum

XRP maintained its upward trajectory during Tuesday’s trading session, holding firmly between $2.38 and $2.41 despite mixed sentiment across the broader crypto market. The token’s ability to sustain above its key $2.38 support zone highlights growing institutional confidence and accumulation behavior, even as speculative activity in derivatives markets begins to wane.

During midday trading, XRP experienced a sharp dip toward $2.38 before rebounding swiftly, with trading volume surging to 79.86 million — nearly double the 24-hour average. This volume spike coincided with a strong recovery, confirming the presence of larger investors actively defending key price levels while retail participation remained subdued. The session’s tight 2% intraday range, marked by multiple rejections near $2.43, reflected a controlled consolidation pattern with a mild bullish bias.

Technical data show XRP continues to trade within an ascending channel, supported by a series of higher lows and consistent buying near the $2.38–$2.39 zone. Resistance remains firm around $2.43, the level that has repeatedly capped upside momentum. Derivatives indicators signal reduced speculative pressure, as open interest slipped 1.4% and daily trading volume dropped 24%. Funding rates have turned slightly negative at -0.0007%, suggesting short-leaning sentiment among traders. However, on-chain metrics remain favorable — exchange reserves have declined by 3.36% since early October, a pattern historically tied to long-term whale accumulation.

For traders, XRP’s ability to hold above $2.38 remains pivotal. A decisive breakout above $2.43–$2.48 could unlock bullish continuation toward the $2.65 target zone, while a failure to defend support risks a retracement to $1.96. Market participants are closely watching for another volume surge above 80 million, which could signal renewed institutional buying and trigger the next volatility expansion phase.