XRP News Today: XRP Surges 15% Past $2.6 Resistance, Eyes $3 Target

XRP’s technical indicators have recently shown bullish signals, suggesting that the cryptocurrency may be on the verge of a significant price breakout. The altcoin’s price action and technical indicators have indicated that any pullbacks might be shallow, and a surge beyond the $3 mark could be imminent. This optimism is supported by the recent breakout past the $2.6 resistance level, which had been a significant barrier for bulls since March. The breakout was accompanied by high trading volume and coincided with Bitcoin’s foray into new territory, further bolstering the bullish sentiment.

The next target for XRP is the psychological $3 resistance level. On July 14, the altcoin tested this level but was unable to immediately flip it to support. However, rising whale accumulation suggests that large holders are confident in the price climbing even higher. This accumulation, combined with the recent approval of the ProShares Ultra XRP ETF by the U.S. SEC, has further buoyed bullish sentiment.

The 1-day chart of XRP/USDT underscores strong bullish momentum. The moving averages are far below the current market price, a situation last seen during November’s rally. If this trend continues, traders and investors can expect shallow pullbacks and quick rallies. The Chaikin Money Flow (CMF) indicator is above +0.05, signaling rising buying pressure, while the Accumulation/Distribution (A/D) indicator shows an uptrend since March, hinting at accumulation despite range-bound price action.

The liquidation heatmap indicates a dense pocket of liquidity just above $3, making it a likely short-term price target. Once XRP surpasses $3.1, the chances of further gains increase significantly. To the south, the $2.61-$2.66 area is a magnetic zone of comparable size to the one around $3. In case of a retracement, buyers can expect a pullback to $2.6, the fair value gap, and former range highs. The Consumer Price Index (CPI) data showing accelerated inflation in June could potentially hurt Bitcoin’s rally in the short term, affecting XRP bulls.

The Squeeze indicator shows an "off" status with a long signal (green), indicating that volatility is expanding in an upward direction. Despite being around 23% below its recent high, technical indicators remain supportive. If the rally extends, a retest and possible breakout beyond $3.84 is plausible. In the short term, the XRP price is resisting the $2.95–$3.00 resistance level. If the trend of rising prices holds out, a breakout could propel XRP to $3.40. The price is currently hovering around $2.92, just below the closely watched $3.00 level. While momentum remains with the bulls, some indicators are flashing cautionary signals.

The recent institutional surge and ETF approval have fueled XRP’s climb into the limelight, currently hovering near $3.01. The altcoin has broken past key resistance at $2.60, holding above all major Exponential Moving Averages (EMAs), while its Relative Strength Index (RSI) sits in overbought territory at 81.05, a classic setup for a potential breakout. However, it is important to note that technical indicators alone do not guarantee a price breakout, and investors should remain cautious and consider multiple factors before making investment decisions.