XRP ($2.00) has been hovering around $2.05 but continues to struggle in surpassing key resistance levels. Despite favorable conditions, the asset has not capitalized on recent developments, including the approval of the Strategic Crypto Reserve in the U.S. Many market participants anticipated a surge in prices following the announcement, yet the broader crypto market remained largely unaffected.

The primary reason for this muted response lies in the reserve’s structure. Unlike institutional investments or ETF approvals, the reserve does not involve direct asset purchases. Instead, it acknowledges digital assets as an essential part of the financial system without increasing market liquidity. Without actual buying pressure, XRP and other cryptocurrencies saw little impact.

Related article: XRP Surges Past $2.57: Can It Reclaim Its 2018 All-Time High?

Long-Term Outlook Remains Positive

Even though XRP missed an immediate breakout opportunity, its long-term outlook remains strong. The reserve’s approval reinforces cryptocurrency legitimacy, drawing more interest from institutional and retail investors. Historically, rising institutional confidence has led to capital inflows, which eventually drive prices higher.

Technical Resistance at $2.69 Slows Momentum

From a technical perspective, XRP is testing the $2.50 resistance but lacks the momentum to break through. A significant increase in trading volume is necessary to push past the critical $2.69 resistance level. 

24- hour price chart. Source: CoinMarketCap

However, the absence of aggressive buying pressure suggests that many traders remain cautious. On the downside, XRP finds strong support at $2.30, marked by the 50-day Exponential Moving Average (EMA). If selling pressure increases, this level could prevent a sharper decline. 

Until XRP gains enough momentum, it will likely consolidate between these levels, waiting for the next catalyst to fuel its movement.

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