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XRP has stabilized at the $2 mark, but there is still considerable resistance ahead.
According to CryptoQuant data, the volume Z-score over the past 30 days is around 0.44, slightly above the average level but far from overheated. What does this indicate? The market is neither in panic nor overwhelmed by speculative sentiment. The overall trading environment is in a state of supply and demand balance. Simply put, the current movement is not driven by emotion but is more about digesting previous volatility and waiting for the next clear signal.
On the technical side, the price is stuck around $2.05, but several moving averages above are pressing down on it. To truly reverse the situation, it needs to break through the $2.30 to $2.40 range, especially surpassing the 200-day moving average resistance.
At this stage, it looks like the market is oscillating between two states—showing signs of accumulation and testing the bottom. With balanced data, no excessive emotion, and clear technical pressure, what is the market waiting for? It’s waiting for the next definitive catalyst to appear.