coindesk.com
XRP surged nearly 6% in a dramatic late-session breakout, powered by an explosive volume spike that quadrupled its hourly average and confirmed a fresh support zone above the $2.20 threshold.
The rally came as whale wallets moved hundreds of millions of dollars worth of XRP, yet the market shrugged off sell pressure, signaling strong underlying demand.
News Background
- The breakout unfolded as global risk sentiment stabilized slightly, with crypto markets rallying across the board.
- XRP led the charge, jumping from $2.19 to $2.20 in the final hour of the session.
- Volume during the breakout hour hit 108.12 million—nearly four times the average—establishing the move as a technically significant surge backed by real capital.
- On-chain data showed major XRP transfers in parallel with the rally. These included a $58 million whale transfer to Coinbase and a separate $439 million movement by Ripple to an unidentified wallet.
- Despite this typically bearish activity, XRP held firm, underscoring increasing confidence in the asset’s near-term prospects.
- The Ripple v. SEC case remains a key wildcard, with regulatory clarity seen as a potential catalyst for XRP’s next leg.
- Meanwhile, Google Trends data shows a fresh wave of retail interest, with searches for “XRP to $3” accelerating.
- Technical analysts are watching the July–September breakout window closely, with some models projecting upside targets between $3 and $5.
Price Action
XRP traded within a $0.056 range from $2.173 to $2.229 over 24 hours, with the most decisive move occurring during the final hour when the token surged nearly 6%. After peaking at $2.23, XRP pulled back slightly and consolidated between $2.19 and $2.20. Despite whale movement, support held firm at $2.17.
Intra-hour activity confirmed strength: the price began climbing at 01:28 UTC, breaking above $2.19 before volume exploded at 01:33–01:34, topping 2.7 million XRP per minute. The rally pushed XRP to $2.21 at 01:36, before settling into a tight consolidation range above $2.19.
Technical Analysis Recap
• XRP gained 5.87% from $2.19 to $2.20 in the final session hour
• Volume spiked to 108.12M XRP—nearly 4x the hourly average
• Price reached session high of $2.23 before consolidating above $2.20
• Support formed at $2.17–$2.19; resistance now sits at $2.23
• Breakout began at 01:28, followed by massive volume burst at 01:33
• Strong bid interest re-emerged at 02:00, signaling continuation potential