XRP Records Bullish Bounce with Strong Volume Confirming Rally to $3

Institutional Demand Supports XRP Recovery as $3 Resistance Looms

XRP rebounded strongly after early declines, with institutional buying firming the $2.84–$2.85 support zone. The key $3.00 resistance remains a critical target.

Highlights:

• XRP climbed 1.79%, rising from $2.89 to $2.95 between July 15, 13:00 UTC and July 16, 12:00 UTC, after dipping to $2.84 earlier in the day.
• Trading volume surged to 134 million during the initial drop, indicating strong demand near the $2.84–$2.85 support level.
• In the final hour, XRP bounced from $2.94 to $2.95 on back-to-back volume spikes of 1.3 million and 1.8 million, confirming a solid breakout.
• The session’s price fluctuated between $2.84 and $2.96, showing 3.7% volatility.

Market Overview:

After early volatility, XRP regained momentum throughout the day. Analysts attribute this strength to corporate treasury inflows and rotation into digital settlement assets. The upcoming ProShares ETF launch on July 18 is expected to further boost buying interest.

Price and Volume Recap:

• Trading range: $2.84 to $2.96 with a net gain of 1.79%
• Institutional buying validated support between $2.84 and $2.85
• Resistance at $2.94 was breached during the final trading hour
• Price increased 0.69% from $2.94 to $2.95 in the last hour
• Volume surges of 1.3 million and 1.8 million accompanied the breakout

Technical Insights:

• Recovery from $2.84 supported by rising volume created a firm base
• Breakout above $2.94 indicates near-term bullish momentum
• Intraday charts show an uptrend channel with resistance near $2.96
• Holding $2.95–$2.96 as support could pave the way for a test of $3.00–$3.05
• A drop below $2.88 would invalidate the bullish outlook

Watch List for Traders:

• Will XRP hold above $2.95 with expanding volume to confirm the breakout?
• A move above $2.96 could open the path to $3.00–$3.05
• Support between $2.85 and $2.88 is crucial to maintain bullish momentum
• Institutional volumes over 100 million and volume bursts exceeding 2 million are key indicators

Conclusion:

After early session weakness, XRP rallied strongly on institutional buying near $2.84. The move above $2.95 has revived bullish momentum, with the $3.00 level in focus. A clear, volume-backed breakout beyond $3.00 could trigger the next leg up.