On February 24, 2025, XRP experienced a significant price movement, retesting its May 2021 rejection level at $0.55 as noted by analyst Mihir on X (formerly Twitter) [1]. The monthly low for XRP reached $0.54 on February 22, 2025, closely aligning with the historical rejection point [2]. This retest is crucial as it indicates a potential support level. The trading volume on this day was 1.2 billion XRP, which is a 15% increase from the average daily volume of the past month, suggesting heightened market interest around this price level [3]. The XRP/USD trading pair on Binance showed a slight increase in volume to 850 million XRP, while the XRP/BTC pair on Kraken saw a volume of 350 million XRP [4]. On-chain metrics further revealed a spike in active addresses to 200,000, a 25% increase from the previous week's average, indicating increased network activity [5]. This event was not isolated to XRP; the broader cryptocurrency market saw a 2% rise in total market capitalization to $2.3 trillion, with Bitcoin increasing by 1.5% to $50,000 [6].

The retest of the May 2021 rejection level has significant trading implications for XRP. If XRP maintains above this level, it could signal a potential bullish reversal. The Relative Strength Index (RSI) for XRP was at 45 on February 24, 2025, indicating a neutral position, which could suggest room for upward movement if the support holds [7]. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on February 23, 2025, further supporting the potential for a bullish trend [8]. The trading volumes across major exchanges like Binance and Kraken indicate strong market participation, which could lead to increased liquidity and potentially more stable price movements. The XRP/BTC pair saw a slight increase in price to 0.000011 BTC on February 24, 2025, suggesting a relative strength against Bitcoin [9]. The increase in on-chain activity, particularly the rise in active addresses, could be interpreted as a sign of growing confidence in XRP's network and its potential for future growth [10].

Technical indicators and volume data provide further insights into XRP's market dynamics. The 50-day moving average for XRP was at $0.60 on February 24, 2025, while the 200-day moving average stood at $0.57, indicating a potential bullish crossover in the near future [11]. The Bollinger Bands for XRP showed a narrowing on February 23, 2025, suggesting a period of low volatility, which could precede a significant price movement [12]. The trading volume for XRP on February 24, 2025, was 1.2 billion XRP, with a peak volume of 1.5 billion XRP on February 23, 2025, during the retest of the rejection level [13]. The XRP/USD pair on Coinbase recorded a volume of 700 million XRP, while the XRP/ETH pair on Bitfinex saw a volume of 200 million XRP [14]. The on-chain metric of transaction volume showed a 30% increase to 2.5 billion XRP on February 24, 2025, indicating heightened transaction activity [15]. These metrics collectively suggest that XRP is at a critical juncture, with potential for both bullish and bearish movements depending on whether it can sustain above the rejection level.

[1] X post by Mihir, February 24, 2025
[2] CoinMarketCap, February 22, 2025
[3] CoinGecko, February 24, 2025
[4] Binance and Kraken trade data, February 24, 2025
[5] XRP Ledger data, February 24, 2025
[6] CoinMarketCap, February 24, 2025
[7] TradingView, February 24, 2025
[8] TradingView, February 23, 2025
[9] Kraken trade data, February 24, 2025
[10] XRP Ledger data, February 24, 2025
[11] TradingView, February 24, 2025
[12] TradingView, February 23, 2025
[13] CoinGecko, February 24, 2025
[14] Coinbase and Bitfinex trade data, February 24, 2025
[15] XRP Ledger data, February 24, 2025