Ethereum and XRP moved in opposite directions over the final week of May, with Ethereum surging while Ripple struggled to gain ground. ETH climbed above $204 for the first time in two weeks as buyers
Ethereum and XRP moved in opposite directions over the final week of May, with Ethereum surging while Ripple struggled to gain ground.
ETH climbed above $204 for the first time in two weeks as buyers pushed past a short-term dip. The altcoin held above the $200 level and wiped out a double top that had capped gains around $205 in earlier sessions. On May 26, the price fell to $201, and hourly charts showed support collapsing to $198. That breakdown triggered a 5% bounce that carried Ethereum to $208.
From there, momentum built. Buyers pushed through $210 and $214, opening a path to a local peak of $220 on May 28. The price consolidated over two days before breaking through the 61.8% Fibonacci level and hitting $243 on May 30. On-chain activity swelled, with Ethereum's active addresses and the number of open long positions both reaching all-time highs.
Anthony Sassano, product marketing manager at Set Protocol, highlighted the supply dynamics. "57% of the total Ethereum supply has not been moved on-chain for over 1 year with approximately 16% not moving in over 3 years," he said. That dormant capital fueled bullish sentiment ahead of ETH 2.0.
Momentum stalled in the final stretch. Although the price touched $244 on the last day of May, sellers regained ground. Ethereum fell 4.5% to $230 by Sunday, May 31. The token closed at $238 and would need to hold above that level to mount another assault on $250.
Ripple spent May in decline, and the final week continued that slide. From May 24, XRP fell 4.5% after breaking below $0.20. Sellers probed lower, testing $0.19 and threatening to drive the token toward $0.15. A recovery pushed above $0.19 but stalled at $0.193. Buyers regained their footing, pushing the price past the 50-day moving average at $0.197.
A decisive move above the 100-day moving average took XRP through the major resistance zone at $0.20 for the first time in weeks. The token rallied to $0.213 on Sunday, May 31, marking its best level since crashing from $0.224 on May 9. Sellers seized on the volatility to push the price down, closing the month at $0.201. For the seven-day period, XRP gained 5.4%, but buyers would need to clear the recent high to push the token higher.
