CoinDesk 2025-07-08 05:06:19

XRP Builds Strength Above $2.26 With $2.38 in Sight. Next Leg Incoming?

XRP posted a 4.5% surge between July 7 and 8, peaking at $2.35 before stabilizing near $2.26. The rally was driven by higher-than-usual trading volume, with over 182 million XRP changing hands during peak hours. Despite broader market hesitation, the token is showing signs of sustained strength, forming solid support zones that suggest continuation potential if key resistance levels are broken. News Background As global trade disputes escalate and geopolitical risks rattle markets, cryptocurrency remains caught between risk-off sentiment and institutional tailwinds. Amid the turbulence, XRP is emerging as a standout, bolstered by strong on-chain activity and renewed institutional attention. Grayscale recently added XRP to its Digital Large Cap Fund for the first time since regulatory restrictions were lifted, and ten XRP spot ETF applications are currently pending before U.S. regulators, with decisions expected as early as October. The anticipation of regulatory clarity — combined with Ripple’s ongoing pursuit of a U.S. bank charter — has given the asset a bullish narrative. Analysts view XRP as one of the most technically promising large-cap tokens, with a clean break above $2.38 likely to open upside targets toward the $3.40 zone. Technical Analysis According to CoinDesk's Analytics, XRP surged from $2.25 to a high of $2.35 over the 24-hour period from 7 July 05:00 to 8 July 04:00, marking a 4.5% increase on the day. The 13:00–16:00 trading window was the most active, with volume spiking to 144M–182M, pushing the price to its session high before profit-taking set in. Initial resistance formed at $2.32 before sellers took control; the price retraced to stabilize at $2.26. The $2.25–$2.26 range has emerged as a key support zone, repeatedly absorbing sell pressure during late-session volatility. In the final hour, XRP experienced 2.0% volatility, rallying from a session low of $2.25 at 04:22 to $2.30 by 04:33. The sharp recovery was driven by a volume burst approaching 1 million units at 04:29, pushing price to a post-session high before consolidating around $2.26.