Foreign media quoted the views of crypto analyst Steph Is Crypto stating that XRP is approaching a key resistance zone after a recent rebound. The report mentioned that market attention is not only focused on the price itself but also includes the progress of crypto legislation in the United States, changes in the coins held by exchanges, and whether the search interest among retail investors has picked up again.
As of press time, XRP is trading at $1.53, up approximately 15.7% in the past week. However, whether this upward trend can continue depends on whether the price can remain above the key range.
Search popularity has seen a rebound.
The report mentions that the search volume for Google of XRP has seen a higher low point for the first time in nearly 90 days, and a similar trend can also be observed over the past 12 months. The article suggests that this reflects a recovery in retail investor sentiment, which is also one of the reasons for the recent increase in discussions about a "breakthrough."
However, this part of the signals mainly reflects changes in market attention and cannot alone confirm that a trend has been established.
Regulatory news continues to disrupt expectations
Regulatory and legislative progress in the United States remains an important variable in the narrative of XRP trading. Reports mention that U.S. Senator Elizabeth Warren continues to oppose the Clarity Act bill, arguing that it is overly biased in favor of the crypto industry. Meanwhile, Ripple's former chief technology officer, David Schwartz, has also expressed his stance on the related vote, questioning whether there are other underlying interests behind some of the opposition.
The article argues that before the relevant legislation is actually implemented, policy debates in Washington may continue to affect market expectations. For XRP, this means that price judgments will still be repeatedly influenced by regulatory news.
Binance Balance and Key Price Levels
Binance currently holds approximately 2.62 billion XRP, which is a high level for the past 69 days. The report does not directly interpret this data as negative or positive, but it points out that an increase in exchange balances is usually worth paying attention to, as such changes sometimes indicate an potential increase in selling pressure.
- $1.37 is considered to be the support level below.
- $1.42 is considered to be a resistance level above.
- If the daily chart breaks below $1.37, or looks back at the $1.25 range...
The article states that although XRP once rose above $1.43, it failed to maintain a level above $1.42 at the close of the daily chart, hence that previous attempt at a breakout was not considered a valid one.
The $2.30 target is derived from morphological analysis.
A more optimistic outlook comes from a head-and-shoulders reversal pattern. Reports indicate that its neckline is roughly between $1.48 and $1.55. If XRP closes above this range on a daily basis, analysts believe the breakout signal will be more definitive, potentially opening up space towards $2.30.
The article also emphasizes that for short-term trends, it is still necessary to see whether the price can hold the support level and effectively break through the resistance level. In other words, $2.30 currently remains a target level based on technical patterns, and not a confirmed market outcome yet.
Additional information:The report also mentioned that FXRP on the Flare network has been online for a full year. Flare stated that approximately 145.2 million FXRP have been minted so far, of which about 130 million have been put into DeFi scenarios, including uses such as staking, vaulting, and borrowing RLUSD.
