Momentum Builds for XRP Above $2.26; $2.38 Resistance Could Be Next Stop

XRP Climbs Amid ETF Hopes and Strong Technical Support

XRP surged 4.5% over the past day, rising to as high as $2.35 before settling near $2.26. The rally was fueled by increased trading activity, with volumes exceeding 182 million XRP during peak sessions, signaling both institutional and retail interest.

Despite broader market caution due to geopolitical tensions and macroeconomic uncertainty, XRP has shown resilience, maintaining key support levels and hinting at further potential upside.

Key Market Drivers

Global markets remain rattled by trade conflicts and geopolitical risks, keeping many investors in a defensive posture. Yet, cryptocurrencies are balancing between risk-off sentiment and growing institutional participation.
XRP has captured particular attention, driven by strong on-chain metrics and renewed institutional engagement.
Grayscale has reinstated XRP in its Digital Large Cap Fund, marking the first inclusion since regulatory barriers eased. Meanwhile, ten XRP spot ETF applications await regulatory decisions in the U.S., potentially arriving by October.
Hopes for regulatory clarity and Ripple’s pursuit of a U.S. banking charter are fueling bullish sentiment around the asset.
Analysts highlight XRP as one of the technically strongest large-cap cryptocurrencies, suggesting that a clean break above $2.38 could open a path toward $3.40.

Technical Analysis Highlights

According to CoinDesk’s analysis, XRP climbed from $2.25 to $2.35 between July 7 at 05:00 and July 8 at 04:00 UTC, marking a 4.5% daily gain.
The most active trading period occurred from 13:00 to 16:00 UTC, when volume spiked between 144 million and 182 million XRP, propelling the token to its session high before profit-taking set in.
A resistance zone developed around $2.32, prompting a price retreat that stabilized around $2.26.
The $2.25–$2.26 region has emerged as crucial support, consistently absorbing selling pressure during late-session volatility.
During the final trading hour, XRP experienced 2.0% intraday swings, bouncing from a low of $2.25 at 04:22 UTC to $2.30 by 04:33.
A burst of buying around 04:29 UTC, with nearly 1 million XRP traded, fueled the late-session rally that pushed prices back to a fresh high before consolidating near $2.26.