After a Strong Rally, XRP Tests Key $2.46 Level — Confirmation Needed Above

XRP Climbs 2.6% Amid Record Institutional Accumulation and Senate Testimony

XRP rallied steadily during the July 9–10 trading session, gaining 2.6% and peaking near $2.46 before pulling back slightly on late-session profit-taking. The token traded in a range between $2.35 and $2.44, showing 3.85% volatility throughout the 23-hour period.

A surge in volume, which hit 78.3 million tokens at 07:00 UTC on July 10, helped XRP break through resistance at $2.43. However, the token faced resistance near $2.46, where sellers emerged toward the session’s end.

Institutional Demand Hits New Records

Institutional interest in XRP is rising, with a record 2,743 wallets holding more than 1 million XRP each, totaling 47.32 billion coins. Daily trading volume jumped 74% to $4.54 billion, reflecting increased confidence amid expectations of clearer crypto regulations.

On July 9, Ripple CEO Brad Garlinghouse testified before the U.S. Senate Banking Committee, urging for comprehensive crypto legislation and emphasizing XRP’s regulatory compliance across more than 60 countries.

Technical Snapshot

Price moved from $2.38 to $2.44 between July 9, 13:00 UTC and July 10, 12:00 UTC.
A volume spike of 78.3 million tokens coincided with a breakout above $2.43 at 07:00 UTC.
Resistance at $2.46 capped the rally, triggering a minor pullback in the final trading hour.
Support held between $2.35 and $2.36 earlier in the session and was tested again near $2.44 during late selling pressure.

Outlook

A sustained breakout above $2.46 on strong volume could open the way for a move toward $2.60 and beyond.
If support near $2.44 fails, prices may test lower levels around $2.38 to $2.35.
RSI levels indicate the market is approaching overbought territory, but no bearish signals are yet evident.
Progress on U.S. crypto regulations will remain a key driver for XRP’s price action.