- XRP continues to defend the $2.00 level, forming a tight symmetrical triangle with declining volatility.
- Is XRP’s range-bound action actually a strategic pause before a larger trend resumes?
Ripple [XRP] remains range-bound, and on-chain sentiment shows FOMO hanging by a thread.
Structurally, the chart lacks a clear directional bias, making a breakdown below the key $2 psychological level an increasingly plausible scenario.
Yet, there’s a counterpoint worth noting.
XRP is still trading nearly 300% above its pre-November 2024 base, and despite multiple tests, the $2 support has yet to break.
Could the current consolidation, then, be a healthy retracement within a broader uptrend? A setup for continuation rather than reversal?
Early holders cash out, but XRP remains resilient
XRP had a volatile Q2. It dropped hard to $1.61, then bounced 40%, only to land right back near $2.19, where it started the quarter. But under the surface, the structure is far more telling.
Even during the $1.61 dip, over 80% of XRP’s circulating supply remained in profit. It is a clear signal that most holders entered the trade during the November accumulation phase.
That means these holders are now sitting on 300%+ unrealized gains.
Glassnode data shows profit-taking peaked in early June at $68.8 million per day, confirming some of these early buyers are beginning to exit into strength. Yet the market structure hasn’t broken down.
XRP has tested the $2.00 level four times since May, and each time, buyers stepped in. In fact, the altcoin has been making higher lows from April and lower highs from May, forming a symmetrical triangle.
Source: TradingView (XRP/USDT)
Add to that the Bollinger Bands tightening up, and it’s clear volatility is drying up, which usually means a big move is coming.
In short, the technicals suggest this may be an accumulation phase rather than a distribution top.
And that brings us to the fourth and final point, one that makes XRP’s consolidation appear less driven by “hype” and more by strategic positioning.
Leverage positioning points to controlled risk
As mentioned earlier, XRP is showing signs of strength under the hood. The $2.00 level has acted as solid support, despite the recent profit-taking.
But interestingly, that liquidity isn’t rushing into leveraged positions. Open Interest has stayed relatively flat in the $3-$5 billion range, nowhere near the overheated levels last seen back in November.
Source: Coinglass
That’s actually a positive signal. With no signs of reckless long exposure, this consolidation phase looks more like steady accumulation than speculative hype.
Plus, with profit-taking already peaking earlier this month, the market may have just dodged a deeper flush. If sentiment flips, the $2 zone may not just be a floor. Instead, it could be the launchpad for XRP’s next breakout.
