- XRP finds support at $2.31 as TD Sequential flashes buy signals on lower timeframes.
- Breakout from falling wedge pattern suggests possible XRP reversal toward $2.55–$2.75.
- XRP ETF demand grows, with $30.4M added last week and 83% odds of SEC approval in 2025.
Ripple’s native token XRP is trading at $2.36, after a recent drop from the $2.70 resistance level. Despite short-term weakness, technical indicators suggest a potential recovery may be underway. The TD Sequential indicator has flashed several buy signals, suggesting market exhaustion on lower timeframes.
Technical Structure Shows Signs of Stabilization
According to analysis prepared by Ali Martinez via X, the TD Sequential indicator has identified “multiple buy signals” on XRP’s hourly chart. These signals come after the asset failed to break above $2.70 twice this week and dropped by over 12%, reaching $2.31 on Saturday.
The current support is positioned at $2.31, while key resistance lies at $2.55 and $2.75. Chart data also shows XRP is breaking out of a falling wedge pattern, according to CW8900 via X. This pattern often signals a reversal, especially when accompanied by rising volume.
The MACD histogram on the 4-hour chart is flattening, but the RSI remains above the neutral zone, suggesting buyers still hold some control. Analysts warn, however, that support at $2.22 must be maintained to avoid further downside pressure.
Derivatives Activity and ETF Demand Signal Institutional Interest
Derivative market data from Coinglass shows XRP open interest declined by 6.47% to $4.71 billion. Meanwhile, long liquidations reached $11.67 million, indicating traders were caught off guard by the latest price drop. Despite this, some institutional interest persists. The Teucrium 2x Long Daily XRP ETF (XXRP) added $30.4 million in assets last week alone.
According to ETF.com, the fund now holds over $106 million since its April launch. This comes ahead of the SEC’s ruling on multiple XRP ETF applications, with a decision expected by late May or June. Polymarket traders currently assign an 83% chance of ETF approval this year.
