XRP News Today: XRP Surges 5% to $2.45 as ETF Speculation Drives Bullish Sentiment

XRP, the cryptocurrency associated with Ripple, has experienced a notable price surge, reaching a 7-week high of $2.39. This marks the first time the digital asset has crossed this threshold since May 23rd. The rise in XRP's market value has been accompanied by an increase in the number of collective balances, indicating a growing interest and investment in the cryptocurrency.

The price increase of XRP can be attributed to several factors. One of the key drivers is the speculation surrounding the potential approval of an XRP Exchange-Traded Fund (ETF). This speculation has fueled a surge in interest and investment, contributing to the remarkable price increase. Additionally, the recovery of XRP prices in 2025, which matched the 5-year return on investment (ROI) of Bitcoin (BTC), has reignited the interest of long-term investors.

Historically, XRP has shown significant price surges. For instance, during 2017, XRP skyrocketed over 2,000%, achieving a peak of $3.80. Similarly, in 2021, a 455% increase was noted, resulting in a price of $1.96. These historical price movements highlight the potential for substantial gains in the cryptocurrency market, although they also underscore the volatility and risk associated with such investments.

The recent price surge of XRP has also been influenced by the broader market sentiment, which has turned bullish. This positive sentiment has been driven by various factors, including the potential for regulatory clarity and the increasing adoption of cryptocurrencies by institutional investors. The bullish market sentiment has contributed to the rising number of collective balances, as more investors seek to capitalize on the potential gains offered by XRP.

However, it is important to note that the price of XRP has also seen minor declines, with analysts eyeing key resistance levels to break for a potential rise to $3. This indicates that while the cryptocurrency has shown significant gains, there are still challenges and uncertainties that could impact its price in the future. Investors and analysts will be closely monitoring these key resistance levels to gauge the potential for further price increases.

XRP has seen a notable uptrend in the past day, with its price climbing by over 5% to reach $2.45 on July 10. This upward movement has propelled XRP beyond the key resistance range of $2.31 to $2.36, signaling a possible shift in the market mood. Experts focus on the candlestick closure expected on July 11, noting that a finish above $2.36 could sustain the upward momentum, while failing to do so might intensify short-term selling.

Success in surpassing the $2.36 barrier today is crucial, as it could drive prices to the $2.44 to $2.45 range, and potentially towards $2.61 to $2.62, aligning with May 15 highs. This technical scenario suggests buyers need to establish this range as a new support level. This development coincides with a rise in cryptocurrency market volume during the New York session on July 9, focusing on exchanges like Binance and Coinbase.

If XRP fails to close above $2.36 today, weakened buying demand could pull back prices to the $2.31 to $2.27 zone, corresponding with the lower band of the ascending wedge pattern on short-term charts. A dip below $2.27 would disrupt this pattern, and sellers could target levels at $2.21 and $2.17, with investor moves across Asia, Europe, and New York influencing daily volatility.

Blockchain analytics firm Santiment reports that XRP’s high of $2.39 marks the peak price in seven weeks. Notably, 2,742 wallet addresses, each with over a million XRP, hold a collective 47.32 billion XRP. These significant holdings, known as “whales,” could significantly influence potential price movements. Record-high concentration in supply could accelerate both upward trends and possible corrections, as evidenced by their activity during the March rally.

With such dynamics in play, several actionable insights emerge: Bearish closure below $2.36 could trigger short-term selling pressures. Price resistance near $2.36 is pivotal for sustaining upward momentum. Weakened volumes below $10 billion may lead to price corrections.

Current developments around XRP’s price point to a critical juncture. As short-term patterns suggest, maintaining robust volume levels is fundamental for price sustainability. The actions of large XRP holders, amid evolving market dynamics, will likely play a vital role in near-term price directions.