XRP news: Price consolidates near $2.18 as bullish momentum weakens
XRP consolidates below descending wedge resistance as bulls attempt to reclaim upside
XRP is trading near $2.18 on June 30 after failing to reclaim its upper supply zone around $2.30. The cryptocurrency continues to fluctuate within a broad range, with persistent rejection from descending trendlines limiting upside.
Highlights
- XRP trades near $2.18 as rejection from $2.30 stalls recent upside attempt
- MACD and RSI reflect neutral-to-bearish pressure; EMAs continue to weigh on price
- Breakout above $2.30 could target $2.60, while failure to hold $2.05 risks fall toward $1.95
While buyers have repeatedly defended horizontal support near $2.00, short-term momentum remains weak and the price is struggling beneath dynamic resistance.
Compression persists beneath wedge resistance
On the 4-hour timeframe, XRP is pressing against a descending wedge boundary near $2.19–$2.20, though it has not yet posted a confirmed breakout. The mid-June rally lost steam just before $2.30, and the price now sits beneath the 20 and 50 EMAs, which are clustered around $2.18–$2.19. This area continues to act as dynamic resistance. Meanwhile, Bollinger Bands have narrowed, suggesting volatility is compressing before the next move.
XRP price dynamics (Source: TradingView)
Momentum indicators offer little optimism. The 30-minute RSI is currently near 43.88, reflecting lackluster buying interest, and the MACD remains flat with only marginal bullish divergence. Unless XRP decisively breaks above trendline and EMA resistance, price is likely to stay confined within the $2.05–$2.30 range.
Weekly structure holds key to bullish recovery
From a broader perspective, XRP is hovering near the 0.382 Fibonacci retracement at $2.28 following multiple bounces from the $1.94 and $1.59 levels—both critical retracement zones from the late 2024 rally. Despite strong defense of the $2 region, the $2.30–$2.45 supply zone has consistently capped upside moves. A weekly close above $2.28 could signal trend continuation toward $2.60. However, failure to hold above $2.05 risks another test of $1.95 and possibly deeper support.
In previous coverage, XRP was seen trading within a tightening wedge structure, with $2.00 acting as a key defense zone. That context remains valid, and the coming sessions could prove pivotal. A breakout or breakdown from the current range will likely set the tone for XRP’s July trajectory.
