With $2.38 on the Horizon, XRP Strengthens Above Key $2.26 Support

XRP Holds Steady as ETF Buzz and Technical Strength Fuel Gains

XRP climbed 4.5% in the past 24 hours, peaking at $2.35 before settling near $2.26. The surge was accompanied by a spike in trading volume, with more than 182 million XRP changing hands during the most active trading windows, signaling strong interest from both retail and institutional investors.

Even as broader markets remain cautious due to geopolitical tensions and macroeconomic concerns, XRP continues to show resilience, holding critical support levels and hinting at the possibility of further gains if resistance barriers fall.

Market Catalysts

• Global markets remain jittery amid geopolitical uncertainty and trade tensions, yet cryptocurrencies, including XRP, continue to attract attention from institutions despite the broader risk-off sentiment.
• XRP has seen renewed interest, fueled by strong on-chain activity and growing institutional engagement.
• Grayscale recently added XRP back into its Digital Large Cap Fund—the first time since regulatory restrictions were lifted. Meanwhile, ten XRP spot ETF applications await regulatory decisions in the U.S., with potential approvals anticipated as early as October.
• Hopes for clearer regulation and Ripple’s efforts to secure a U.S. banking license are adding momentum to XRP’s bullish narrative.
• Analysts identify XRP as one of the technically stronger large-cap tokens. A decisive move above $2.38 could open the path toward the $3.40 target.

Technical Analysis

• CoinDesk data shows XRP rose from $2.25 to $2.35 between July 7 at 05:00 UTC and July 8 at 04:00 UTC, reflecting a 4.5% gain.
• The busiest trading period occurred between 13:00 and 16:00 UTC, during which volumes ranged from 144 million to 182 million XRP, driving prices to session highs before profit-taking set in.
• Resistance emerged around $2.32, prompting a retracement that stabilized near $2.26.
• The zone between $2.25 and $2.26 has developed into a key support area, consistently absorbing selling pressure during periods of volatility.
• In the final hour of trading, XRP experienced sharp price swings, rebounding 2.0% from a low of $2.25 at 04:22 UTC to $2.30 by 04:33.
• A burst of trading volume—nearly 1 million XRP at 04:29 UTC—fueled the quick rally to new highs before the price consolidated around $2.26.