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XRP Pulls Back From $2.27 Peak Yet Maintains Uptrend Structure Above $2.15

XRP Pulls Back From $2.27 Peak Yet Maintains Uptrend Structure Above $2.15

CryptoNewsNetCryptoNewsNet2025/11/18 10:45
By:coindesk.com

Technical breakdown accelerates despite institutional product rollouts as XRP tests critical support amid broader market weakness.

News Background

  • Multiple XRP ETFs launched throughout November, including Franklin Templeton’s EZRP on Nov. 18, joining Canary Capital’s XRPC and several Bitwise products.
  • Combined first-week ETF flows exceeded $245 million, signaling substantial institutional interest during the rollout.
  • Despite strong inflows, ETF trading volumes slid 55% from peak levels, reflecting diminishing retail enthusiasm.
  • Broader crypto markets weakened as Bitcoin volatility increased ahead of its Death Cross event, dragging altcoins lower.
  • ETF narratives created optimism, but market liquidity remained fragmented, limiting momentum for XRP despite increased institutional access.

Price Action Summary

  • XRP fell 4.96% from $2.27 → $2.16, breaking below the $2.20 support level.
  • Total session volume surged 54.56% above monthly averages, reaching 236.6M XRP traded.
  • Breakdown triggered a slide to intraday low of $2.11 before recovering to the $2.15–$2.17 zone.
  • Resistance formed at $2.28, while stabilization attempts clustered around $2.155–$2.166.
  • Post-breakdown consolidation printed a tight range, indicating temporary seller exhaustion but no confirmed reversal.

Technical Analysis

  • XRP’s reversal from $2.27 into a sharp decline toward $2.16 confirmed a full breakdown of its short-term bullish structure.
  • The failure to reclaim the $2.28 resistance zone—coinciding with early-session ETF excitement—revealed that institutional product launches were insufficient to offset technical fragility in the underlying spot market.
  • Volume expansion of 54.56% above monthly norms validated the selloff, particularly as the breach of $2.20 unleashed cascading stops and forced long liquidations.
  • The intraday rebound from $2.11 demonstrated that buyers remain active beneath key support levels, but the recovery lacked volume conviction, stalling almost immediately at $2.18.
  • This lack of follow-through underscores the current imbalance: strong ETF flows create structural demand, yet broader crypto risk-off conditions overpower near-term bullish catalysts.
  • A bearish pennant formed through compression between $2.155 support and descending resistance at $2.18, suggesting that the market is coiling for another directional move.
  • Momentum indicators remain bearish with price trading below key EMAs and showing no signs of trend reversal.
  • The inability to lift beyond $2.18–$2.20 keeps XRP vulnerable to further decline, while the tightening range reflects market indecision rather than accumulation.
  • For bulls to regain control, price must break above the pennant's upper boundary and reclaim $2.28—a threshold that now represents structural confirmation of regained upward momentum.

What Traders Should Watch Out For

  • Traders must monitor whether XRP’s consolidation above $2.155 represents stabilization or simply a pause before continuation lower.
  • The next catalysts remain ETF-related, with additional Bitwise launches scheduled through Nov. 25, though recent declines in ETF trading activity suggest diminishing short-term impact unless broader market sentiment improves.
  • The $2.15 pivot is critical: holding the level offers potential for a bounce toward the $2.28–$2.30 corridor, while a decisive break below opens the door to a rapid selloff toward the $1.98 structural support cluster.
  • XRP’s near-term trajectory will also depend on Bitcoin’s volatility regime—particularly whether BTC stabilizes after its Death Cross event or drags altcoins into deeper retracement phases.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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