XRP Dips Below $2.20: Is a Major Rebound Brewing?

In the past 24 hours, Ripple’s XRP has experienced a modest pullback, slipping by 0.4% to trade at $2.17. While this price movement may seem minor, it’s part of a broader consolidation pattern that’s attracting attention across the crypto community.

Mild Pullback Amid Strong Sentiment

XRP opened around $2.18 and briefly peaked at $2.23 before retreating. This range-bound movement indicates a relatively stable session, though the dip toward the lower end of the band could be testing trader sentiment. Despite the minor red candle, community confidence remains strong.

_{XRPUSDT Source: Tradingview}

According to CoinMarketCap data, 88% of over 1.1 million voters still feel bullish on XRP, with only 12% taking a bearish stance. That’s a massive sentiment skew, especially during a slight downturn. XRP’s market cap currently stands at $128.6 billion, down 0.29%, while its 24-hour trading volume dropped 6.3% to $2.58 billion.

This volume-to-market cap ratio stands at 2.01%, indicating that trading interest has slightly cooled off. The circulating supply is 59 billion XRP, out of a maximum of 100 billion. That supply dynamic still leaves room for increased liquidity without immediate concerns about inflation.

Price Performance Over Time

XRP is trading 43.29% below its all-time high of $3.84, reached in January 2018. Yet, the long-term return remains stellar. Since hitting its all-time low of $0.002802 in July 2014, the coin has surged by over 77,000%. While that explosive growth has cooled, it continues to underline XRP’s potential when market conditions align.

Short-term technical indicators show that XRP is hovering near support levels. Although the dip to $2.17 may seem minor, it could serve as a foundation for a potential bounce, especially with strong bullish sentiment supporting it. On-chain optimism remains intact, as XRP continues to show resilience despite broader market jitters.

Ripple (XRP) is navigating short-term price swings with remarkable stability. While today’s decline may concern some, the overwhelmingly bullish sentiment and historical performance suggest this could be a pause rather than a reversal.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.