XRP is currently trading at $1.48, marking a 0.67% increase over the last 24 hours. This modest gain allows the asset to slightly outperform Bitcoin, which remained relatively flat with only a 0.09% increase during the same period. The current price action represents a period of consolidation and modest follow-through following a sharp rally experienced the previous day. The primary driver behind this movement is residual momentum stemming from a significant regulatory catalyst, though the market is currently digesting the initial spike.
The recent volatility began on February 15 when XRP surged over 8% following the announcement that Ripple CEO Brad Garlinghouse had been appointed to the CFTC’s Innovation Advisory Committee. This regulatory news served as a major spark for investor sentiment, but the subsequent 24-hour period saw the price stabilize as early profit-taking subsided. This movement reflects a cooling-off period after a volatile, news-driven spike rather than the emergence of a new bullish catalyst. Traders are now watching for sustained volume above the seven-day average to confirm renewed momentum, rather than a mere drift in price.
While no clear secondary driver was immediately visible for the specific 24-hour move, broader market context points to underlying accumulation signals. Reports indicate that South Korean trading desks are actively rebuilding XRP positions, and the entity Evernorth has acquired over 473 million XRP. This institutional and regional buying interest appears to be providing a floor for the price, which helps explain XRP’s slight outperformance versus Bitcoin during quiet market conditions. These accumulation signals suggest that despite low overall volume, there is a bid supporting the asset from larger players.
Looking at the near-term market outlook, the immediate technical structure shows XRP trading near its daily pivot point of $1.48 and the 61.8% Fibonacci retracement level at $1.49. The key support zone lies between $1.35 and $1.40, while resistance is situated near $1.60. A break below the support zone risks a move toward $1.20, whereas holding above it could allow the price to retest resistance. The key trigger for the broader market remains the U.S. Supreme Court’s tariff ruling scheduled for February 20, which serves as a potential volatility trigger. Consequently, the near-term bias is neutral-to-cautious, hinging on whether key support holds during these macro events.
In conclusion, the market outlook for XRP is one of neutral consolidation. The modest gain reflects a market pausing after a sharp regulatory-driven move, with underlying accumulation providing tentative support. The key question remaining for investors is whether XRP can defend the $1.40 support level ahead of the February 20 Supreme Court decision or if it will succumb to broader market uncertainty. A daily close above $1.60 would signal strength, while a break below $1.35 would open a path toward lower valuations.
Source:: Institutional Accumulation Supports XRP Amidst Regulatory Optimism