- XRP must hold $2.30 support to confirm bullish momentum toward the $2.36 resistance level.
- Trading volume and technical indicators suggest growing trader interest despite mixed market sentiment.
- Analysts eye June 3–6 as a potential turning point for XRP’s price breakout toward $2.65.
XRP is currently trading at $2.23, showing signs of renewed bullish activity on the lower timeframes. Price action continues to consolidate between $2.10 and $2.35, though multiple indicators point toward a potential breakout. Technical analysts are now watching $2.30 as the key support level to confirm the next upward move.
Technical Momentum Builds as Traders Watch Key Levels
According to an observation by GemXbt, XRP/USDT has formed a bullish structure on the 1-hour chart. The price remains above the 5, 10, and 20 moving averages, showing short-term strength. The Relative Strength Index is nearing overbought conditions, while the MACD reflects positive momentum and rising volume.
Price has now reclaimed $2.20 and is pushing toward $2.24 resistance. A confirmed break above this level could target $2.30 next. According to analysis prepared by XForceGlobal, wave symmetry from the January high to the April low shows alignment with Fibonacci extensions, suggesting price structure remains intact.
The Awesome Oscillator has triggered its fifth buy signal in recent weeks. Previous occurrences have resulted in gains between 6% and 26%. If volume increases and price sustains above $2.30, traders expect the next resistance at $2.36 to come under pressure.
Market Sentiment Mixed as XRP Eyes $2.65 Target
While technicals point to a bullish breakout, institutional investors remain cautious. CoinShares data shows XRP investment products recorded $28.2 million in outflows over the past two weeks. Broader market flows, however, continue to favor Bitcoin and Ethereum.
Despite this, open interest in XRP derivatives rose 1.33% and spot volume increased 24% in the last 24 hours, according to Coinglass. This suggests growing trader engagement ahead of a potential move toward $2.36.
Should XRP hold above $2.30, the next major level is $2.65, which many analysts see as confirmation of stronger momentum. Market watchers are now focusing on the June 3 to June 6 period, which could mark a turning point.
