What happened?
XRP stalled around $2.60 after an impulsive run that peaked near $2.66 and is now sitting in a key Fibonacci demand zone roughly between $2.56 and $2.61. Analysts are watching two scenarios: a drop toward ~$2.50 or a breakout above the 78.6% Fibonacci level near $2.655, with an ascending trendline pushing price toward $2.63–$2.65. Technicals are mixed — there’s an ascending channel and rising wedge suggesting bullish bias but weakening momentum, and the TD Sequential recently flashed a sell signal.
Who does this affect?
Retail XRP holders and short-term traders face immediate risk and opportunity as the token sits at a make-or-break technical zone. Institutional partners and payment networks (and Ripple’s pitch to them) are indirectly affected after Western Union chose Solana over XRP for settlement, raising questions about Ripple’s adoption story. Leveraged traders and derivatives platforms could see amplified moves because many are positioned to chase the next big swing based on these setups.
Why does this matter?
The market impact could be big: a confirmed breakout could fuel a quick rally (analysts point to a potential ~12% move toward $3.32), while a breakdown would likely accelerate selling and shake confidence. Western Union’s Solana decision undermines Ripple’s institutional narrative, which could reduce long-term demand and put downward pressure on price if others follow. High leverage availability means any sharp move — up or down — could lead to outsized volatility and cascade liquidations in crypto markets.