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  • XRP Holds $2.10 Support with Bullish Hopes Ahead of Trade Talks
  • Analysis
  • News

XRP Holds $2.10 Support with Bullish Hopes Ahead of Trade Talks

Dennis Gatheca 7 May 2025
XRP IMAGE
  • XRP is holding support at $2.10 amid market indecision, with traders awaiting key US-China trade talks and a Federal Reserve rate decision.
  • Despite low trading volume, rising whale accumulation signals growing investor confidence in a potential bullish reversal.

Ripple’s XRP finds itself at a pivotal crossroads, clinging to key support levels while broader macroeconomic uncertainties, particularly US-China trade tensions and Federal Reserve policies, keep markets in suspense. As the week progresses, all eyes are on upcoming trade talks between the two global economic powerhouses and a critical Fed interest rate decision — both events with significant implications for the crypto market.

ALSO READ:Ripple’s RLUSD Stablecoin Now Listed on Gemini, Expanding Its Reach

XRP Holds Firm Despite Indecision and Low Volume

Currently trading just above $2.10, XRP remains resilient even as overall trading volume shrinks. Data from CoinGlass indicates a 6.97% decline in volume to $4.38 billion, dampening immediate bullish hopes. At the same time, Open Interest saw a modest 0.5% increase to $3.63 billion, signaling marginally higher engagement from market participants.

XRP derivatives data
XRP derivatives data | Source: CoinGlass

Meanwhile, the RSI indicator hovers near the neutral midline, suggesting trader indecision and reinforcing the ongoing price consolidation. XRP’s inability to breach resistance levels near $2.20, alongside the lingering pressure of a long-term descending trendline, adds further weight to the bearish outlook.

Fed Meeting and US-China Trade Talks Shape Market Sentiment

XRP’s muted momentum mirrors that of the broader crypto market, where traders appear reluctant to take significant positions ahead of major economic events. According to the CME Group FedWatch Tool, markets largely expect the Federal Open Market Committee to keep interest rates unchanged. Still, uncertainty around trade policies — especially in light of recent US-China tech and resource bans — adds another layer of risk.

This weekend’s scheduled meeting between US Treasury Secretary Scott Bessent and Chinese economic chief He Lifeng in Switzerland may provide fresh market direction. A move toward de-escalation could spur a wave of optimism across risk assets, including XRP.

Whale Activity Signals Growing Confidence in XRP

Despite prevailing caution, on-chain data shows a notable increase in whale holdings. Addresses containing 1 million to 10 million XRP now control 9.44% of the supply — up from 8.24% at the start of the year. This rise points to improving risk-on sentiment among large holders, offering a potentially bullish counterbalance to waning retail activity.

XRP Supply Distribution metric
XRP Supply Distribution metric

With support at $2.10 still intact and the 200-day EMA nearby at $1.99, XRP is treading a narrow path. A decisive break below could send the token toward $1.80 or even $1.61.

XRP/TETHER US price chart for 30 days period

However, a positive outcome from this weekend’s trade talks or a dovish Fed could revive bullish momentum and trigger a breakout above $2.20 — opening the door to a move toward $3.00.

MIGHT ALSO LIKE:Why Ripple is Eyeing USDC Issuer Circle: What’s at Stake for XRP

DISCLAIMER:
The views and opinions expressed herein are solely those of the author  and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.

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