Ripple (XRP) Gains 6% in the Last Seven Days But Struggles to Break the $2.50 Mark

XRP has been moving sideways, experiencing short-term bounces, but a larger bearish divergence remains active on the 3-day chart.

Ripple’s native token XRP rose by 6% over the last seven days. However, the price went down by more than 2% in the last 24 hours as the daily chart shows. The token struggled to break the $2.50 mark.

On the positive side, after five weeks of outflows, digital asset investment products recorded massive inflows in the last week. According to Glassnode's latest weekly report, the latest price action brought in a combined $730 million in inflows. Ripple (XRP) secured the second spot with $265 million in inflows after Bitcoin's (BTC) $490 million. The crypto behemoths brought in the largest portions of the weekly inflows. Among the top eight cryptocurrencies, only Ethereum faced the largest outflows with $140 million in outflows.

Moreover, Polymarket bettors reached a new high of 87% as they bet that the SEC will approve a spot ETF for XRP in 2025. The optimism around the legal cases and the ETF approval brought the price of XRP to new highs of $2.59 on Thursday.

Here's a closer look at what happened in the last week:

XRP has been displaying sideways price action, with short-term bounces observed. A larger bearish divergence remains active on the 3-day chart.

This ongoing bearish trend suggests that, despite the potential for brief bullish movements, significant upward momentum is unlikely in the near term. The price is still not expected to see the kind of explosive growth like we witnessed back in November 2024.

According to analyst Josh of Crypto World, XRP continues to bounce within a defined sideways price range. Support is found between $2.24 and $2.30, with additional support in the $1.95 to $2.05 range. On the resistance side, there is a key level around $2.59 based on the latest price high, followed by stronger resistance between $2.65 to $2.80, and another resistance at the $3 mark.

In the short term, XRP shows a relatively neutral stance as the price bounced between support and resistance without any significant follow-through in either direction. The lack of momentum means that the market is currently in a consolidation phase, with little indication of a breakout in either direction for now.