• XRP is trading at $2.45, which is 17.4% lower this week and is consolidating around a major support level after another wave of market volatility.
• The current trading range is supported at $2.45 and resisted at $2.64 indicating a stabilizing phase in the market.
• Compared to Bitcoin, XRP also appreciates 2.6 % to 0.00002208 BTC, which is relatively strong despite a larger U.S. dollar backlash.

This week the selling pressure on XRP increased, with the latter declining by 17.4% during the last seven days to reach a trading value of $2.45. The cryptocurrency is approaching its short-term support zone with the decline, which is a very important area to observe in the market in the short term. However, the correction is high and the price structure is similar to the longer term structure that appears on the multi-year Fibonacci projection diagram.

The latest market action indicates that volatility is on the rise with traders reviewing positions after long-term gains in the first half of the quarter. The correction action has pushed XRP to the lower part of the trading range consolidating around the price points that used to earn great purchasing attention.

Support Holds as Market Reacts to Weekly Volatility

The support level of $ 2.45 will be the bottom of the active range of XRP at this point. A number of intraday dips have been observed on this level in the last few sessions that revealed the importance of the level when it comes to structural stability. The good side is that there is a resistance at $2.64 which restrains the short term recovery efforts and is not giving the market a chance to stretch to the high areas without disintegrating.

The collision between these two planes may be regarded as a stage of compression following an abrupt drop. It should be mentioned that the fact that XRP has normalized near the bottom line shows a short-term equilibrium between buyers and sellers. However, the short-term momentum is low and the volume of trading is signs of normalization following past spikes.

Broader Structure Highlights Technical Continuity

The structural outline provided on the longer-term chart identifies continuing consolidation among a specified Fibonacci progression framework. The price has recovered back to the middle range levels after hitting higher resistance areas at the beginning of this year. Although it dropped weekly, XRP still has been moving in the long direction that links the past accumulation and distribution periods.

XRP is trading at 0.00002208 BTC in Bitcoin terms, with an increase of 2.6% and this is indicative of strength in the currency despite the dollar-based correction. The dual performance brings out the movement of capital between markets and yet keeps to the current technical set up that are evident in the higher time scale.