- XRP failed again to break the $2.30 resistance but maintains a bullish weekly structure with growing accumulation off exchanges.
- Legal pressure from the SEC, Linqto, and the DOJ continues to cloud sentiment despite improving technical indicators.
- On-chain activity remains weak with low transaction volume and a high NVT ratio, signaling limited retail engagement.
Ripple’s XRP gave the $2.30 resistance zone another shot on July 3rd—but no dice. It just couldn’t break through. Technically speaking, this level sits right near a mid-range resistance around $2.27, which has been a pain point for months now.
Since March, XRP’s basically been stuck in this broad sideways grind. But there’s a silver lining: on-chain data shows over a billion XRP tokens have been pulled off exchanges recently. That kinda move? It usually screams accumulation—maybe whales or long-term holders positioning for the next leg up.
But not everything’s rosy. Ripple’s legal headaches are still very much alive. Now it’s not just the SEC… they’re also getting heat from Linqto and even the Department of Justice. That kinda courtroom drama? It’s not exactly helping the price.
Resistance Zones Are Still in Play—Can XRP Finally Punch Through?
Zooming out to the weekly chart, the structure actually doesn’t look too bad. After a big rally in November, XRP managed to hold a higher low at $1.61. That’s usually a healthy sign.
But inside that bigger setup, things have gotten… choppy. Bears have been flexing at $2.60 for months now—repeated rejections there. Also, something worth flagging: trading volume’s been steadily fading since February. The 20-week moving average of volume is headed downhill, which usually means a period of consolidation, not fireworks.
Now on the daily chart, that $2.27–$2.32 zone is the one to watch. Bulls keep knocking on the door, but it won’t open just yet. OBV dipped through most of June, hinting at weaker demand, but the last few days show a little recovery. RSI just crept above 50, so momentum’s shifting… but slowly.
If XRP can flip that $2.32 resistance into support? Swing traders might start to circle back in. Until then, it’s just a waiting game.
Retail Interest Slips—But Big Players Might Be Loading Up
Despite signs of accumulation, overall transaction activity on the network has been pretty meh. That dip in engagement from retail traders doesn’t go unnoticed. The NVT ratio? Still elevated. That means there’s less actual movement on-chain relative to the network’s value, which kinda reinforces the idea that network usage is cooling off.
In short: the price structure’s hanging in there, and accumulation is quietly happening—but the spark needed for a real breakout hasn’t quite lit yet. Between the legal drama and soft retail demand, XRP’s path upward still faces a few bumps.
