XRP Gains 1.3%, Closes Near $3.22 on Strong Volume Amid Institutional Buying Interest
XRP posted a 1.3% gain over the past 24 hours, recovering from an early dip to close near $3.22, supported by robust afternoon trading volumes. The token’s late-session rally and signs of institutional accumulation point to potential upside momentum.
Market Snapshot
- XRP traded between $3.15 and $3.23 during the 24-hour period ending July 27 at 20:00 UTC.
- Early weakness saw the price dip to $3.16 before buyers stepped in to push it higher.
- Heavy volumes in the afternoon, peaking at over 80 million tokens traded in an hour, helped XRP finish near its daily high.
Context
Despite ongoing market uncertainty due to recent ETF-related volatility and liquidation events, XRP displayed technical resilience. Institutional buying and its growing use case in cross-border payments and DeFi applications underpin sustained investor interest.
Price Action and Volume
- XRP dropped to $3.16 around 09:00 UTC before rebounding strongly.
- Afternoon volumes surged to 81.78 million and 69.06 million at 16:00 and 17:00 UTC, surpassing the 24-hour average of 38.25 million.
- The token traded in a narrow range of $3.15 to $3.23, a spread of roughly 2.17%.
- A late rally lifted XRP from $3.21 to $3.22 on heavy volume, particularly between $3.20 and $3.22.
- Support at $3.16 was retested multiple times and held firm.
Technical Analysis
XRP maintained an ascending channel throughout the session, with a series of higher lows from $3.16 to $3.22. Resistance near $3.23 capped gains, but a strong bounce off $3.20 in the final hour signaled sustained bullish momentum. Volume spikes around 20:00 UTC confirmed institutional interest. A decisive break and hold above $3.23 could trigger further upside.
What Traders Are Watching
- Will XRP sustain above $3.20 amid broader market consolidation?
- Can increased volume push prices beyond the $3.25–$3.30 resistance zone?
- Institutional inflows remain a key factor as spot volumes climb during recovery phases.
- A confirmed breakout from the ascending channel could propel XRP toward $3.30 or higher.
