What to know:
- XRP rallied 8% from $2.58 to $2.78 between July 11 06:00 and July 12 05:00, with an intraday high of $2.96 at 15:00 before retracing.
- Afternoon price action saw exceptional volume — over 375M between 13:00–15:00 — with buyers repeatedly defending the $2.70–$2.75 zone.
- A $14.03M leveraged long was opened on Hyperliquid at $2.30, signaling aggressive whale positioning.
- Analysts now target $2.90–$3.40 as the next resistance band, citing bullish structure and capital inflows.
- News Background
Whale wallets have ramped up exposure in recent sessions, most notably with a $14M long established on derivatives venue Hyperliquid. - The trade coincides with a breakout from an ascending triangle structure and a growing belief among technical analysts that the $2.90 region, once cleared, could spark a fast leg toward $3.40 and beyond.
- This comes as Ripple’s broader ecosystem — including RLUSD stablecoin momentum and cross-border settlement integrations — continues to attract institutional interest.
Price Action Summary
- Range: $0.35 | Low: $2.58 → High: $2.96
- Peak Time: 15:00 | Sharp retracement followed, but price held above $2.70
- Support Zone: $2.70–$2.75, where demand remained intact through multiple tests
- Final Hour (04:55–05:54): XRP rose from $2.76 → $2.79 (+1%)
- Volume Spike: 2.6M between 05:30–05:35 validated breakout toward session close
Technical Analysis
- Price formed an ascending triangle with higher lows and horizontal resistance tests
- Total trading range of $0.35 = 14% volatility on session
- Afternoon resistance at $2.96; consolidation at $2.78
- Key breakout zone remains $2.90–$3.40; breach would likely trigger accelerated upside
- Late-session breakout confirmed by real volume, not thin order books — a key bullish sign
What Traders Are Watching
- Can XRP flip $2.80–$2.85 into a new base?
- Watch for reaction near $2.90; a clean move through that zone with >200M volume may open path to $3.40
- Failure to hold above $2.70 could invite pullback toward $2.58–$2.60
- Whale long at $2.30 continues to act as downside anchor for bullish bias
Takeaway
Real flows, strong technical structure, and aggressive leveraged positioning underpin XRP’s 8% daily move. The $2.96 rejection showed local resistance, but recovery into the close points to renewed strength.
