Following a Bullish Move, XRP Faces $2.46 Resistance — Watch for a Clear Break Above

XRP Rises 2.6% Amid Strong Institutional Demand and Ripple CEO’s Senate Testimony

XRP saw a steady 2.6% increase during the July 9–10 trading session, reaching a peak near $2.46 before pulling back slightly on late-session profit-taking. The token traded between $2.35 and $2.44, reflecting 3.85% volatility over the 23-hour period.

A surge in trading volume, hitting 78.3 million tokens at 07:00 UTC on July 10, helped XRP break through key resistance at $2.43. However, gains were capped near $2.46 as selling pressure emerged toward the session’s close.

Institutional Interest at Record Levels

Institutional accumulation has surged, with 2,743 wallets now holding over 1 million XRP each, totaling 47.32 billion coins. Daily trading volume jumped 74% to $4.54 billion, signaling growing confidence amid expectations for clearer crypto regulations.

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

Technical Overview

• XRP’s price rose 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 accompanied the breakout above $2.43 at 07:00 UTC.
• Resistance near $2.46 capped the rally, leading to 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.

What to Watch Next

• A sustained move above $2.46 on strong volume could open the door to targets at $2.60 and beyond.
• Failure to hold support near $2.44 may lead to retesting lows near $2.35–$2.38.
• RSI indicators show XRP nearing overbought territory but without bearish signals.
• Progress on U.S. crypto regulations remains a key catalyst for price movement.