Why Is Ripple Spiking? Whale Moves Propel XRP Price Close to $3

XRP experienced a surge in volatility and trading activity over the past 24 hours, igniting speculation that the token could soon break through higher price levels.

Intraday volatility spiked 14%, with trading volumes surpassing 375 million. Between July 11 at 06:00 and July 12 at 05:00, XRP climbed 8%, moving from $2.58 to $2.78. The price reached an intraday peak of $2.96 at 15:00 before easing back slightly.

Significant trading occurred during the afternoon session, as over 375 million XRP exchanged hands between 13:00 and 15:00. Buyers consistently defended support in the $2.70–$2.75 range, indicating strong demand at those levels.

A major catalyst behind the move was whale activity. A large leveraged long position worth $14.03 million was opened on the Hyperliquid derivatives platform at $2.30, underscoring strong conviction from large investors.

Analysts are now eyeing the $2.90–$3.40 region as the next key resistance zone, highlighting positive technical signals and steady inflows of capital as potential drivers for further upside.

Market Context

Whale wallets have been increasing their XRP exposure in recent trading sessions. The notable $14 million long on Hyperliquid coincides with a breakout from an ascending triangle pattern, fueling optimism among traders that a decisive move above $2.90 could spark a rapid run toward $3.40 or even higher.

This momentum comes as Ripple’s broader ecosystem continues to expand, with developments like growing adoption of the RLUSD stablecoin and new cross-border payment integrations drawing institutional interest.

Price Action Highlights

• Trading Range: $0.35, from lows of $2.58 to highs of $2.96
• Peak Activity: Hit at 15:00, followed by a pullback, though prices held above $2.70
• Support Zone: $2.70–$2.75, maintaining strength through multiple tests
• Final Hour (04:55–05:54): XRP edged higher from $2.76 to $2.79 (+1%)
• Volume Spike: 2.6 million XRP traded between 05:30 and 05:35, confirming strong momentum into the session close

Technical Overview

• XRP is forming an ascending triangle pattern, characterized by higher lows and repeated resistance tests.
• The session saw 14% volatility over a $0.35 trading range.
• Resistance was evident near $2.96, with prices consolidating around $2.78.
• The breakout zone remains at $2.90–$3.40; a decisive move above could trigger significant gains.
• Late-session momentum was backed by real trading volume rather than thin liquidity—a bullish sign.

What Traders Are Watching

• Whether XRP can establish the $2.80–$2.85 area as a new support level
• A clear break above $2.90, accompanied by volume over 200 million, could pave the way to $3.40
• A drop below $2.70 might prompt a pullback toward $2.58–$2.60
• The significant whale long at $2.30 continues to underpin the bullish outlook

Conclusion

XRP’s 8% rally reflects solid capital inflows, strong technical formations, and aggressive whale positioning. Despite facing resistance at $2.96, the token’s rebound into the session close signals ongoing strength and the potential for further gains.

A confirmed breakout above $2.90 could open the door for a new bullish leg higher, with traders setting sights on $3.40 in the near term—and in more optimistic scenarios, even $5 or higher over the longer run.