XRP Soars as Whale Activity Drives Price to Nearly $3 ๐
XRP has seen an impressive 8% surge, climbing from $2.58 to $2.78 between July 11โ12, reaching a peak of $2.96 before retracing. The rally was marked by high volatility with a 14% price range and notable whale activity, including a $14.03M leveraged long position opened on Hyperliquid at $2.30. Analysts are eyeing $2.90โ$3.40 as key resistance zones, potentially signaling further gains.
What Happened?
XRP Price Action: The price rose sharply to $2.96 in the afternoon, followed by a small retracement. However, the price remained strong above $2.70, with heavy volume โ over 375M XRP traded between 13:00-15:00.
Whale Activity: A key whale positioned $14.03M on Hyperliquid, showing heavy leverage at $2.30, which drove the market higher.
Key Levels: Traders are now looking at $2.90โ$3.40 as potential resistance, with $3.40 being a long-term target. If $2.90 is breached with significant volume, XRP could enter a strong bullish phase, targeting $3.40 and possibly $5 in the future.
Key Insights:
Technical Breakout: XRP formed an ascending triangle, suggesting upward momentum. A breakout through $2.90 could trigger a fast leg towards $3.40.
Support Zone: $2.70โ$2.75 has held strong, with buyers defending this range throughout the day.
Volume Validation: The late-session volume surge, particularly in the 05:30โ05:35 window, confirmed the breakout and validated the bullish trend.
What's Next for XRP?
Watch for reactions around the $2.90 zone. A clean break through this level with >200M volume could lead XRP toward $3.40.
If the price fails to hold above $2.70, expect a pullback toward $2.58โ$2.60.
The whale long position at $2.30 remains a key downside anchor, supporting the bullish bias.
Conclusion:
XRPโs surge is driven by strong technical momentum and whale positioning. If it clears $2.90, the next target could be $3.40, with $5 as an ultra-bullish target in the long run. ๐
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