XRP is witnessing a strong price surge amidst a vibrant cryptocurrency market. At the time of writing, XRP is trading at $2.94, up 6% in the past 24 hours and 29% over the past 7 days. With this upward momentum, XRP is nearing the $3 mark – an important psychological threshold that has not been reached since 2018.

🚀 Market Sentiment and Whale Momentum

A report from crypto.news on July 10 indicates a significant increase in interest from XRP "whales." Currently, 2,742 wallets hold at least 1 million XRP, with total holdings reaching 47 billion XRP – a figure that reflects strong confidence from major players in the bullish outlook.

Not only is there spot buying pressure, but derivative trading volumes are also surging. According to data from Coinglass:

  • XRP futures volume increased by 10.48%, reaching $17.31 billion

  • Total open interest rose by 10.64%, reaching $8.12 billion

This indicates that more and more traders are betting on the possibility of further price increases for XRP.

💹 Technical Analysis: The $3 Threshold is Being "Attacked"

Technically, XRP is trading above the upper Bollinger Band – a sign of strong bullish momentum. The price is also above all significant moving averages, including:

  • 10-day EMA: $2.60

  • 20-day SMA: approximately $2.85

  • 200-day EMA: $2.14

Additionally, the MACD indicator continues to expand positively, and the RSI has reached 83, indicating the market is in overbought territory – but at the same time, this is a signal of very strong upward momentum.

📈 Short and Long-Term Scenarios

  • If XRP closes the week above the $3 level with confirmed volume, the bullish momentum could extend to the $3.50–4.20 range in the short term.

  • In the long term, according to analyst Ali Martinez, the price could aim for the $6 range if it maintains the upward momentum and firmly breaks through the $3 mark.

  • Long-term support factors may come from cryptocurrency ETF funds and greater regulatory clarity.

⚠️ Risk and Support Zone

Although the current trend is positive, profit-taking may occur if XRP does not surpass or hold above the $3 level. In the event of a correction, notable support zones include:

  • $2.60: aligns with the 10-day EMA

  • $2.35–2.45: a zone with convergence of multiple moving averages and potential demand

📊 Summary

XRP stands at a critical moment after 7 years, with the potential to break through the $3 price level – an iconic milestone. The current surge is supported by increasing activity from major investors, strong technical momentum, and market enthusiasm. If it surpasses this threshold, XRP could embark on a new journey towards the $4 range and beyond to $6.