Ripple's spot surges by 1.34 billion, and XLM approaches key downside channel resistance

According to Woofun AI, the current transaction price of Ripple/XLM is anchored at $1.41. This price just hits the key resistance area of the long-term downward channel, and market attention is heating up sharply due to a significant recovery in spot trading volume.

Judging from the microstructure of the market, capital inflows showed obvious spot-dominant characteristics. Spot trading volume climbed to $1.34 billion within 24 hours. This figure not only reflects the influx of actual purchases, but also resonates with the trend of prices breaking through short-term resistance levels. The intraday review showed that XLM opened at a low level of $1.30, then experienced a steady rise, and accelerated upward during the evening trading session, successfully crossing multiple short-term pressure lines.

Although the price consolidated in the $1.38-$1.40 range after hitting a high point, continued buying support led to a steady recovery in the price. At the same time, the derivatives market is also active. According to data compiled by Woofun AI, the 24-hour futures trading volume reached 5.66 billion US dollars, and the size of unclosed contracts reached 3.09 billion US dollars, indicating that leveraged funds are extremely involved in the current market. At press time, XLM remained around $1.41. This “upward - consolidation - then upward” rhythm, which is different from a simple pulse-type surge, shows a more solid bullish base.

Technical indicators further confirm the conversion of kinetic energy. Currently, the $1.40 to $1.42 range has been transformed into an important technical support level. If the price stabilizes above this, the upward trend is confirmed; conversely, it may fall back to the previous consolidation zone. The MACD indicator has turned slightly positive. The MACD line is above the signal line, and the bar chart shows a weak positive value, which suggests that bullish momentum is accumulating but has not yet formed an overwhelming advantage. The Relative Strength Index (RSI) recorded 57.3, above the neutral value of 50, and remained above the moving average of about 53.0, indicating that the market is strong but has not entered the overbought zone.

It is worth noting that although spot trading volume is an important basis for judging the health of the market, the phenomenon that futures trading volume far exceeds spot also suggests a potential risk of fluctuation, and subsequent trends still need to observe the evolution of capital intentions.

Looking at it from a longer-cycle perspective, XLM is at the tipping point of breaking through a long-term downward channel. This downward channel began at a high point in late May and formed a long-term suppression line. Although many previous attempts to bounce back have failed, the strong upward momentum since the price fell to a low of $0.16 in August, making the $0.19 to $0.20 area the core game area for recent trends. The current price is approaching the upper end of the channel. If it can effectively break through this technical pattern, it will fundamentally change XLM's long-term trend structure. This is the most critical technical test Ripple has faced since the rebound at the bottom of August, and the results will determine the direction of the next phase of the market.