XRP News Today: XRP Surges 5% to $2.42, Tests Key Resistance Zone

Ripple's XRP has seen a significant surge in the past 24 hours, with the token gaining over 5% and currently trading around $2.42. This upward movement has positioned XRP within a critical resistance zone between $2.31 and $2.36, an area where the price has faced challenges in recent weeks. Traders are now closely monitoring whether XRP can break through this level, which could signal a fresh rally towards the next resistance levels at $2.44–$2.45. Beyond this, the next key target is around $2.61–$2.62, marking a local high reached in mid-May. A confirmed breakout above $2.36, especially if the price holds this level as new support, would be a strong bullish signal.

However, on the shorter time frame, XRP appears to be forming a rising wedge pattern, which is typically seen as a bearish sign. This pattern will only be confirmed if the price drops below $2.27. If that happens, XRP could pull back to short-term support zones at $2.21 and $2.17. In short, if XRP breaks above $2.36, bulls could take control and push towards $2.60. But if the price slips below $2.27, a temporary pullback might follow.

An expert warned that while XRP’s price is rising, traders should be cautious because global trading volumes are still low. They suggested this move could be part of a pump and dump setup. Real, strong price moves usually happen when trading volumes cross $10 billion, like when XRP previously jumped from $0.58 to over $2.

Santiment reported that XRP’s price has hit a 7-week high, rising above $2.39 for the first time since May 23rd. Currently, there are 2,742 wallets with over 1 million XRP — just one less than yesterday’s record of 2,743 wallets. These big holders now control 47.32 billion XRP, showing they still have strong confidence in XRP’s future.

Ripple's XRP is currently trading near $2.33, within a long-standing triangle pattern. Analysts suggest that a breakout above $2.34 could confirm bullish momentum, potentially pushing the price towards $2.60. However, if the price slips below $2.27, a temporary pullback might follow. Short-term price targets for XRP include $2.39 for July 10, with a recommendation to short the asset, and $2.37 for July 11 and 12, also with a short recommendation. Some analysts predict that XRP could reach $10 by the end of 2025, driven by increased global adoption and additional banking partnerships. However, this prediction is based on speculation and should be taken with caution. Additionally, if XRP breaks above its July high of $2.35, analysts expect the next major test at $2.50, followed by resistance zones at higher levels.