XRP Rallies 4.5% Amid Volume Surge and ETF Optimism

XRP surged 4.5% between July 7 and 8, reaching a peak of $2.35 before consolidating near $2.26. The rally was fueled by heightened trading activity, with over 182 million XRP traded during peak hours. The 13:00–16:00 window saw the sharpest price movement, lifting XRP from $2.25 to $2.35 before profit-taking pushed it back to the $2.26 support zone.

Despite broader crypto market hesitation, XRP is showing strong technical resilience. The $2.25–$2.26 area has formed a solid support level, repeatedly absorbing sell pressure during late-session volatility. A brief 2% recovery in the final hour, driven by a burst of 1 million units traded around 04:29, highlighted continued buyer interest.

Investor sentiment around XRP is being bolstered by several macro and regulatory developments. Grayscale recently re-added XRP to its Digital Large Cap Fund, marking a return of institutional confidence after regulatory hurdles began to ease. Additionally, ten spot XRP ETF applications are under review by U.S. regulators, with decisions expected as early as October. Anticipation of regulatory clarity, combined with Ripple’s pursuit of a U.S. bank charter, is reinforcing a bullish outlook for the token.

Technical analysts are watching the $2.38 level as a key resistance. A clean breakout above this threshold could open the door to a rally toward $3.40, a major target in XRP’s current bullish setup. With strong on-chain metrics, growing institutional interest, and a favorable macro backdrop, XRP is emerging as one of the top-performing large-cap cryptocurrencies to watch in Q3.