XRP News Today: Ripple’s XRP Consolidates Above $3.35 Amid 16% Surge in Trading Volume as Bullish and Bearish Forces Clash

Ripple’s XRP price has consolidated above the $3.35 level following an all-time high (ATH), with market dynamics highlighting a tug-of-war between bullish and bearish forces. Despite short-term volatility, the cryptocurrency has maintained a 0.35% rise over the past 24 hours, stabilizing near $3.50. This consolidation phase follows a surge in trader participation, marked by a 16% increase in recorded trading volume.

Analysts and market data platforms such as CoinGlass reveal a mixed landscape. Long-term XRP holders have been steadily accumulating tokens, with $56.85 million worth of XRP exiting exchanges in the last 48 hours. This outflow suggests investors are transferring holdings to secure wallets, potentially signaling long-term confidence. Conversely, traders have opened $258 million in short positions near the $3.68 level, indicating a bearish bias that could trigger price pressure if the asset fails to break higher.

The technical outlook presents both opportunities and risks. A key liquidation level on the downside is identified at $3.412, where $69.51 million in long positions face potential exposure. Meanwhile, the overbought Relative Strength Index (RSI) of 83 signals that XRP may experience a short-term pullback before resuming its upward trajectory. AMBCrypto’s analysis notes that maintaining the $3.35 support level could propel the price toward $6, aligning with Fibonacci retracement targets.

Expert sentiment remains cautiously optimistic. A prominent crypto analyst highlighted a 95% probability of a spot XRP ETF approval on July 22, 2025, framing it as a catalyst for broader adoption. Another analyst pointed to a technical breakout from a bullish flag pattern, predicting a potential $15 price target—a 327% surge from current levels. While such forecasts are speculative, the asset’s ongoing consolidation above its breakout level is viewed as a positive sign by market observers.

Short-term traders appear to be bracing for a potential reversal. The $258 million in short positions at $3.684 represents a significant risk if XRP’s upward momentum stalls. However, the persistence of long-term accumulation and institutional optimism about regulatory developments may counterbalance immediate bearish pressures. The market’s next move will likely depend on whether the $3.35 support holds and whether ETF-related news catalyzes renewed buying interest.