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Markets

What to know:

After a period of declining throughout May, XRP has started to attract buyers, bouncing off its recent low. However, this increase doesn’t necessarily indicate a major shift in the overall trend. While the price moving above $1.30 was accompanied by a significant surge in trading activity, it’s still below the level needed to confirm a true reversal of the current trend.

News Background

Recently, feelings about XRP have become much more negative. Data from the XRP ledger shows that the typical active trader currently has about 47% less value than what they originally paid for their XRP.

Experts disagree on whether prices will continue to fall or begin to rise. Some note that current negative attitudes are similar to those seen at the lowest points in previous market downturns, suggesting a potential recovery is near.

From my analysis, while derivatives trading has come down from its highest points, I’m still seeing a lot of speculative activity on Binance – significantly more than we’ve seen recently. It suggests traders are still taking on risk, despite the overall cooling trend.

Price Action Summary

XRP’s price increased over the past 24 hours, going from $1.2959 to $1.3060 after briefly falling to around $1.2693. The biggest price jump happened on May 28th at 2:00 PM UTC, with a large surge in trading volume – 107.9 million XRP – that broke through a price barrier near $1.29. Later in the day, the price stabilized, fluctuating between approximately $1.30 and $1.32.

Technical Analysis

XRP recently showed signs of recovery, breaking a pattern of falling prices. Buyers quickly reacted when the price dropped, causing a strong bounce and establishing a new pattern of rising lows. However, XRP still faces significant resistance around $1.40 and especially at $1.65, which has repeatedly stopped price increases. The price is still moving within a larger triangular pattern, indicating this recent increase might be a temporary move within a larger struggle rather than the beginning of a new upward trend.

What traders should watch

XRP is currently finding strong support around $1.30. As long as the price stays above this level, there’s a chance for it to recover. To see significant improvement, XRP needs to climb back up to the $1.32-$1.34 range. If it breaks above $1.40, it could signal a broader recovery is underway. However, falling below $1.30 could lead to a drop towards $1.20. The longer XRP trades within its current narrow range, the more likely a large price swing will occur when it eventually breaks through either a support or resistance level.

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2026-05-29 08:17