XRP price reclaimed the $2.40 mark on January 11, after a turbulent start to the week. On-chain data shows XRP exchange reserves remain elevated as market sentiment hangs in the balance. How will this impact Ripple price recovery in the days ahead?
XRP Price Bounces 7% as Traders React to Ripple CEO’s Trump Dinner Update
XRP price was subject to volatile headwinds this week, as crypto markets reacted to external downward pressures. The sell-off tapered off towards the end of the week, with Bitcoin’s 3% rebound to reclaim $95,000 sparking muted gains across altcoin markets.
Recent trends show that XRP price recovery has moved ahead of the market average, buoyed by Ripple executives' attendance at a dinner with former US President Donald Trump.
On January 8, Ripple CEO Brad Garlinghouse confirmed his attendance at the high-profile dinner. Speculation surrounding the event sparked optimism about potential political support for cryptocurrencies, particularly amid Ripple’s ongoing battle with the SEC.
Since the announcement, XRP price has rebounded 7% within 48 hours to reach $2.40, outperforming BTC and ETH. Traders are now monitoring whether this event will catalyze further buying momentum ahead of Trump’s January 20 inauguration.
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XRP Exchange Reserves Surge $85M as Market Sentiment Remains Uncertain
Despite the price rebound, on-chain data reveals cautious sentiment among XRP traders. CryptoQuant’s Exchange Reserves chart shows a significant increase in XRP deposits on Binance:
- 35 million XRP deposited between January 5–11
- $85 million added to short-term market supply
This surge in exchange reserves suggests traders may be preparing to sell, potentially capping upward momentum. It also reflects lingering apprehension amid regulatory uncertainty and broader market volatility.
XRP Price Forecast: Key Resistance at $2.50
Technical indicators present a cautiously bullish outlook:
- Volume Delta flipped positive (+18.92M XRP inflows)
- Parabolic SAR at $2.57 signals potential bearish pressure
Failure to breach $2.50 resistance could trigger a pullback toward $2.25 support. Sustaining the rally hinges on overcoming this key level while managing exchange reserve risks.
Frequently Asked Questions (FAQs)
What drove XRP’s 7% price increase?
The rally followed Ripple CEO Brad Garlinghouse’s attendance at a dinner with Donald Trump, sparking optimism about regulatory developments.
Why are rising exchange reserves concerning?
The $85M surge suggests traders may be preparing to sell, increasing short-term supply pressure.
What’s the next critical level for XRP?
Clearing $2.50 is vital to sustain momentum. Otherwise, a drop to $2.25 support is possible.
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Key Takeaways
- XRP outperformed the market with a 7% rebound
- $85M in XRP deposited to Binance signals trader caution
- $2.50 resistance is the next make-or-break level
- Regulatory developments and market sentiment remain pivotal
Disclaimer: This content reflects market conditions and the author’s analysis. Conduct your own research before investing.
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