XRP has seen a notable surge in volatility and trading activity over the past day, sparking optimism that the cryptocurrency may soon break through higher resistance levels.
Intraday volatility jumped 14%, with trading volume exceeding 375 million XRP. Between July 11 at 06:00 and July 12 at 05:00, XRP gained 8%, climbing from $2.58 to $2.78. The token reached an intraday high of $2.96 at 15:00 before pulling back modestly.
Trading was particularly active in the afternoon, with more than 375 million XRP changing hands between 13:00 and 15:00. Throughout the session, buyers consistently defended the $2.70–$2.75 support zone, signaling strong market demand.
One key factor behind the rally was significant whale activity. A large leveraged long position worth $14.03 million was established on the Hyperliquid derivatives platform at $2.30, indicating strong conviction from major market participants.
Market analysts are now focused on the $2.90–$3.40 price band as the next significant resistance zone, citing favorable technical patterns and continued capital inflows as potential drivers for further gains.
Market Drivers
Large investors have been increasing their exposure to XRP in recent sessions. The notable $14 million long on Hyperliquid coincided with a breakout from an ascending triangle formation, fueling trader optimism that a decisive move above $2.90 could set off a rapid rally toward $3.40 or even higher.
Momentum has also been supported by positive developments within Ripple’s ecosystem, including growing adoption of the RLUSD stablecoin and new integrations for cross-border payments that are attracting institutional interest.
Price Action Highlights
- Trading Range: $0.35, spanning lows of $2.58 to highs of $2.96
- Peak Activity: Reached at 15:00, followed by a retracement, though the price held above $2.70
- Support Zone: $2.70–$2.75, demonstrating resilience through multiple tests
- Final Hour (04:55–05:54): XRP edged upward from $2.76 to $2.79 (+1%)
- Volume Spike: 2.6 million XRP traded between 05:30 and 05:35, confirming strong momentum heading into the session close
Technical Outlook
- XRP has been forming an ascending triangle pattern, marked by higher lows and repeated resistance tests.
- The session’s trading range produced 14% volatility.
- Resistance remains near $2.96, with consolidation occurring around $2.78.
- The crucial breakout zone lies between $2.90 and $3.40; a clear move above could spark significant gains.
- The late-session surge was supported by genuine trading volume, indicating strong market interest rather than thin liquidity.
Key Levels Traders Are Watching
- Whether XRP can establish support between $2.80 and $2.85
- A clean breakout above $2.90, backed by trading volume exceeding 200 million, could pave the way toward $3.40
- A slip below $2.70 might open the door for a pullback to the $2.58–$2.60 region
- The whale long at $2.30 remains a crucial anchor supporting the bullish case
Conclusion
XRP’s 8% rally reflects solid market participation, robust technical structure, and aggressive moves from large investors. Although resistance around $2.96 has held for now, the token’s recovery into the close points to ongoing strength and the potential for another leg higher.
A confirmed breakout above $2.90 could signal the start of a fresh bullish phase, with traders already eyeing $3.40 in the near term—and, in highly optimistic scenarios, targets above $5 in the longer run.
