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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.
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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.
A confirmed breakout above $2.90 could mark the start of a new bullish leg — with traders already eyeing $3.40 and, in ultra-bullish cases, $5+ as long-term targets.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.