XRP Challenges $2.46 Resistance Following Bullish Rally — Await Confirmation Above

XRP Gains 2.6% Amid Record Institutional Accumulation and Senate Hearing

XRP advanced steadily over the July 9–10 session, climbing 2.6% to reach an intraday high of $2.46 before pulling back on late-session profit-taking. The token’s price moved within a range of $2.351 to $2.443, reflecting 3.85% volatility during the 23-hour trading period.

A surge in trading volume—peaking at 78.3 million tokens at 07:00 UTC on July 10—helped XRP break through key resistance at $2.43. However, gains stalled just below $2.46 as sellers emerged toward session close.

Institutional Demand Hits New Heights

Institutional interest in XRP has surged, with a record 2,743 wallets now holding over 1 million XRP each, totaling 47.32 billion coins. Daily trading volume rose 74% to $4.54 billion, signaling renewed confidence amid expectations of clearer regulatory frameworks.

On July 9, Ripple CEO Brad Garlinghouse testified before the U.S. Senate Banking Committee, calling for comprehensive crypto legislation and highlighting XRP’s compliance across more than 60 jurisdictions.

Price and Technical Overview

XRP’s price rose from $2.38 to $2.44 between July 9, 13:00 UTC and July 10, 12:00 UTC.
The breakout above $2.43 resistance at 07:00 UTC was accompanied by a volume spike to 78.3 million tokens.
The intraday peak of $2.46 met strong resistance, triggering a pullback with prices falling 0.73% in the final hour.
Sell pressure intensified between 12:25 and 12:31 UTC, pushing prices to a session low of $2.437.

Key technical levels:

Support: $2.35–$2.36 early-session base, tested again late under selling pressure near $2.437
Resistance: $2.46 capped upside momentum with repeated rejections
Trading Range: $0.092 (3.85%) from low to high
Volume: Sustained above average, with a 74% increase in traded value compared to the 24-hour average

What to Watch Next

A decisive breakout above $2.46 with strong volume would signal potential targets at $2.60 to $2.75.
Failure to hold above $2.437 could open the door to support levels near $2.38–$2.35.
Despite RSI nearing overbought conditions, no bearish divergence is apparent on intraday charts.
Progress on U.S. crypto legislation remains a key macro catalyst for further gains.