What You Need to Know:
- XRP climbed 8% to $2.78, reaching a peak of $2.96 before a slight pullback.
- A leveraged long position of $14.03M was opened on Hyperliquid, indicating significant whale activity.
- Analysts predict resistance levels of $2.90 to $3.40, suggesting potential for further price increases.
Detailed Overview:
The XRP market experienced a significant rally as its price rose from $2.58 to $2.78 between July 11, 06:00, and July 12, 05:00. The peak occurred at 15:00 when XRP hit $2.96, before slightly retracting.
In the afternoon trading period, volume spiked significantly, exceeding 375M, as buyers actively defended the $2.70 to $2.75 range.
Key Insights:
- A whale wallet established a $14M long position at $2.30, boosting bullish sentiment.
- Traders are watching the $2.90–$3.40 resistance zone closely, which if breached, could lead to new highs.
Additional Context:
Recent whale activities suggest stronger market confidence as XRP’s trading patterns appear to signal an upward trajectory. Ripple’s ecosystem enhancements, including new stablecoin integrations, are likely attracting institutional investors, further solidifying market stability.
Market Summary:
- Trading Range: $0.35 | Low: $2.58 | High: $2.96
- +1% increase observed in the final hour as XRP rose from $2.76 to $2.79.
- The last hour’s trading recorded impressive volume, affirming the breakout trends.
Conclusion:
XRP’s daily 8% increase is underscored by solid trading volumes and technical structures, reflecting growing bullish confidence in the market for potential further gains.
