XRP Accumulation Grows Amid Bullish Signals, but $2.3 Resistance Remains Key Hurdle for Breakout

XRP has seen renewed accumulation, reflected by a reduction in exchange reserves and ongoing capital outflows, suggesting consistent buying activity. Technical analysis highlighted an initial bullish trend, with XRP previously breaking above $2.22 and showing momentum supported by a positive hourly MACD and RSI above 50. The price consolidated above the 100-hour Simple Moving Average, with critical resistance at $2.32 and further targets at $2.35, $2.40, and $2.50. However, recent daily indicators point to a still-bearish swing structure, following rejection from $2.6 and a strong resistance at $2.28, which aligns with the 38.2% Fibonacci retracement level. The NVT ratio has fallen, indicating XRP may be undervalued relative to its activity, while On-Balance Volume reflects buying support lacking the strength for a breakout. Liquidity clusters around $2.29-$2.36 suggest increased short-term volatility, yet a decisive rally above $2.3 remains uncertain. Traders should closely watch the $2.35-$2.4 region for a potential price reversal. In summary, accumulation trends persist for XRP and buyers appear active, but the path to a firm breakout above $2.3 has not been confirmed. The short-term market outlook remains cautiously optimistic, with key resistance levels acting as major tests.