XRP Consolidates Above $2.26, Setting Up for Potential Push Toward $2.38

XRP Holds Strong Above Key Levels as ETF Buzz Fuels Rally

XRP posted a solid 4.5% gain over the past day, surging to a high of $2.35 before easing slightly to around $2.26. Trading volumes spiked, topping 182 million XRP during the busiest periods, reflecting heightened interest from both institutional and retail traders.

Even amid wider market uncertainty driven by geopolitical tensions and economic jitters, XRP is proving resilient. Its ability to hold crucial support levels has traders eyeing further upside potential, should resistance barriers give way.

What’s Driving the Market

  • Global markets remain on edge due to geopolitical risks and shifting trade dynamics. Yet crypto markets, including XRP, continue to attract attention from institutional investors seeking exposure despite the broader risk-off environment.
  • XRP has been in focus, buoyed by robust blockchain activity and increasing institutional engagement.
  • Grayscale has reinstated XRP in its Digital Large Cap Fund, the first time since regulatory hurdles were lifted. Meanwhile, ten XRP spot ETF proposals are pending with U.S. regulators, with decisions expected as early as October.
  • Optimism around regulatory clarity and Ripple’s pursuit of a U.S. banking charter are helping sustain bullish sentiment.
  • Technical analysts highlight XRP as one of the stronger large-cap cryptos on the charts. A decisive move above $2.38 could open the door to targets around $3.40.

Technical Insights

  • CoinDesk data shows XRP advanced from $2.25 to $2.35 between July 7 at 05:00 and July 8 at 04:00 UTC—a 4.5% daily increase.
  • The most active trading window came between 13:00 and 16:00 UTC, where volumes ranged from 144 million to 182 million XRP, pushing prices to session highs before some profit-taking.
  • Resistance emerged near $2.32, leading to a pullback that found stability around $2.26.
  • The zone between $2.25 and $2.26 has become a key support region, consistently absorbing selling pressure during late-session moves.
  • In the final trading hour, XRP experienced sharp intraday action, jumping 2.0% from $2.25 at 04:22 UTC to $2.30 by 04:33.
  • A spike in trading volume, nearing 1 million XRP around 04:29 UTC, drove a quick rally to a new high before prices settled back near $2.26.

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