XRP saw a surge in volatility and trading activity over the past 24 hours, fueling optimism that the token could soon challenge higher price levels.

Intraday volatility climbed 14%, while trading volume spiked above 375 million as XRP rallied 8%, rising from $2.58 to $2.78 between July 11 at 06:00 and July 12 at 05:00. The price reached an intraday peak of $2.96 at 15:00 before experiencing a retracement.

Afternoon trading was marked by intense activity, with more than 375 million XRP changing hands between 13:00 and 15:00. Buyers consistently defended the support zone around $2.70–$2.75, indicating solid demand at those levels.

Adding to the bullish sentiment, a significant $14.03 million leveraged long position was opened on the derivatives platform Hyperliquid at a price of $2.30, signaling strong conviction from large investors, or “whales.”

Analysts are now watching for a potential breakout, setting their sights on the $2.90–$3.40 range as the next key resistance zone, supported by positive technical signals and steady capital inflows.

News Background

Large whale wallets have been ramping up exposure in recent sessions, highlighted by the $14 million long position on Hyperliquid. This move aligns with a breakout from an ascending triangle chart pattern and growing confidence among technical analysts that a clean push through the $2.90 level could unleash a rapid rally toward $3.40 or even higher.

The bullish momentum comes as Ripple’s ecosystem continues to expand, driven by developments like RLUSD stablecoin adoption and new integrations for cross-border payments, which are drawing increasing institutional interest.

Price Action Summary

• Range: $0.35 — from a low of $2.58 to a high of $2.96
• Peak Time: 15:00, followed by a sharp retracement, yet price stayed above $2.70
• Support Zone: $2.70–$2.75, where demand remained firm despite multiple tests
• Final Hour (04:55–05:54): XRP rose from $2.76 to $2.79 (+1%)
• Volume Spike: 2.6 million XRP traded between 05:30–05:35, reinforcing the late-session breakout

Technical Analysis

• Price has formed an ascending triangle, with higher lows and repeated tests of horizontal resistance.
• The trading range spanned $0.35, producing 14% volatility for the session.
• Resistance appeared near $2.96, with consolidation around $2.78.
• The critical breakout zone remains $2.90–$3.40; a decisive move through this range could trigger accelerated gains.
• Late-session price action was backed by genuine trading volume rather than thin order books—a crucial bullish signal.

What Traders Are Watching

• Can XRP flip the $2.80–$2.85 region into new support?
• A clear break above $2.90 on volume exceeding 200 million could pave the way toward $3.40.
• Failure to hold above $2.70 might invite a pullback toward the $2.58–$2.60 area.
• The substantial whale long at $2.30 remains a key anchor for the bullish outlook.

Takeaway

XRP’s 8% daily surge reflects strong real-money flows, solid technical structure, and aggressive leveraged bets from large players. Although the rejection at $2.96 established near-term resistance, the token’s rebound into the session’s close signals resilience and potential for further gains.

A confirmed break above $2.90 could ignite the next leg higher, with traders eyeing $3.40 as the immediate target—and, in more optimistic scenarios, aiming for $5 or beyond in the longer term.