XRP price continues to hold firmly above the $2 mark, sustaining a 23% weekly gain.

Ripple (XRP) price surged past the $2.30 mark on Thursday, securing a 23% gain on the weekly timeframe. Despite volatile price action, XRP fluctuated within a 5% range between $2.10 and $2.35 throughout the day.

The price of Ripple (XRP) has continued to trade above the $2 mark on Thursday, sustaining a 23% weekly gain despite volatile market trends. As the US CPI and PPI figures are expected to offer insights into potential interest rate cuts, traders are pivoting their attention to Trump’s proposed crypto reserve.

Many investors who acquired XRP during these key developments have held onto their unrealized profits, signaling confidence in further upside. The reluctance to sell suggests that traders may be waiting for confirmation of ETF approval or funding allocations to the proposed crypto reserve.

However, by the close of European trading, market sentiment had shifted as escalating US-Canada trade tensions erased earlier gains.

This saw crypto prices slip further, with XRP price dipping another 2% on Thursday.

At the same time, traders are keeping an eye on broader market trends as they could influence the direction of XRP price in the coming days. A break below the lower band of the Keltner Channel at $1.90 could open the door for a deeper decline.

Conversely, if XRP price manages to close above the Keltner Channel's mid-band, it could signal a continuation of the recent uptrend, setting the stage for a move towards the next key resistance at $3.32.

Moreover, if the Parabolic SAR dots flip below the price, it would provide a strong indication of bullish momentum and could pave the terms for a rally towards the next major Fib level at $2.81.

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