XRP continues to struggle near the $2 mark, facing resistance due to a substantial sell wall just below that price point. Recent rallies have been repeatedly thwarted, despite attempts to reclaim key levels like the 20-period exponential moving average. The primary challenge isn't reaching $2, but rather the market's ability to absorb the concentrated supply.

On-chain data reveals a significant cluster of approximately 1.86 billion XRP between $1.96 and $1.98, creating a major supply zone. To break through, XRP needs sustained buying pressure and substantial exchange outflows. Without it, price rebounds will likely stall. Whale accumulation is occurring, but it's not enough to overcome the massive sell wall.

For XRP to see a breakout, a clean reclaim of the 20-EMA near $1.94 is the first step. A strong 12-hour close above $1.99 is crucial to break the supply cluster. Sustained buying must be strong enough to absorb the existing selling pressure. Conversely, a close below $1.80 would signal continued weakness for the cryptocurrency.

XRP's fate hinges on overcoming the $1.86 billion sell wall. The ability of XRP to sustain an upward trajectory depends on the market's capacity to absorb the concentrated supply just below $2. This will require strong buying volume and sustained exchange outflows, which have been lacking in recent attempts.