RXP continues to show strength despite recent market volatility. While BTC has experienced sharp moves, XRP’s price action has remained relatively stable. At press time, XRP is trading around $2.20, with strong support forming between $2.17 and $2.23.
Next week, several key economic events could cause short-term swings in the broader crypto market. On Wednesday, investors will closely watch the core PCE inflation report and GDP data. Thursday will bring jobless claims and manufacturing PMI, while Friday’s unemployment data will round out the week.
Although this data can trigger some intraday volatility, it’s unlikely to alter XRP’s long-term trend unless results deviate significantly from estimates.
From a technical standpoint, XRP is still trading within a broader range, despite encountering lower highs and lower lows. This movement further supports the case for consolidation rather than a full downtrend.
If the current support levels at $2.17 and $2.23 are breached, then traders might consider setting entry points around $2.05, aiming for a move toward $2.35 or $2.40 seems more likely.
Volume for XRP is relatively low, but its 84% correlation with Bitcoin means it may mirror BTC’s movements in the short term.
For now, XRP is holding steady, and unless there is a major shift in macroeconomic data, we may see some gradual upward movement in the coming days.
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