$xrp Still in a Sideways Phase Can XRP Community Day Trigger a Breakout?
Remains in a consolidation phase after dropping from the US$1.60 level earlier this month. On Thursday afternoon (Feb 12), the price was trading around US$1.37–US$1.38, attempting to hold a key support area. Selling pressure has started to ease. Exchange reserves are declining, and community sentiment is improving following XRP Community Day. The big question is: is this momentum strong enough to end the sideways movement? Price Still Trapped Below Key Resistance From a technical perspective, the daily chart shows XRP moving in the middle to lower range of the Bollinger Bands, with volatility beginning to contract. Band compression typically signals a consolidation phase after selling pressure fades.
However, the price has yet to break above the middle Bollinger Band (around the 20-day moving average). As long as XRP remains below this level, strong resistance sits in the US$1.45–US$1.50 range.
On the downside, US$1.35 serves as the nearest support. If this level fails, the next potential downside target is around US$1.28.
In short, the current market structure remains neutral to slightly bearish with no confirmed trend reversal yet.
Selling Pressure Is Fading, But No Strong Inflows Yet
The Chaikin Money Flow (CMF) indicator is still slightly below zero but has started to move upward from its recent lows. This suggests that selling pressure is gradually weakening.
That said, capital inflows have not yet returned in a meaningful way. Without a significant increase in volume, XRP risks continuing to trade within a narrow range.
Exchange Reserves Are Declining On-chain data shows that XRP reserves on Binance have been decreasing in recent weeks. Lower exchange reserves generally mean fewer tokens are readily available for spot selling. In theory, reduced supply on exchanges can ease short-term selling pressure. However, price rallies depend not only on supply reduction but also on rising demand.
Without a surge in buying interest or a strong catalyst, lower reserves alone may not be enough to drive a breakout.
How Big Is the Impact of XRP Community Day? XRP Community Day primarily focuses on ecosystem updates and community engagement within the XRP Ledger. While it can improve sentiment and increase participation, it does not necessarily introduce immediate price-moving announcements. During a consolidation phase, positive sentiment can act as short-term momentum fuel. However, its impact tends to be limited without support from broader factors such as: Bitcoin’s price movement Overall crypto market inflows Major regulatory or fundamental catalysts Conclusion: Confirmation Is Still Needed To truly end the sideways phase, XRP needs to: Hold firmly above the US$1.35 support level Break convincingly above US$1.45 with strong volume Until a valid breakout occurs, consolidation remains the primary scenario. XRP Community Day may boost sentiment, but technical confirmation remains the key to a trend reversal. $XRP