Community Trust ScoreVerified
Ripple’s native token, XRP, is gaining momentum once again. In the past 24 hours, XRP has climbed over 5%, trading around $2.42 at press time. This move marks a fresh attempt to break through a critical resistance zone between $2.31 and $2.36, an area where the price has repeatedly been rejected in recent weeks. With bullish sentiment building, many analysts believe XRP may be gearing up for a significant breakout toward the $2.60 mark.
XRP Approaches Key Resistance at $2.36
XRP’s price action has been closely monitored by traders, especially as it trades within a tight technical range. The current rally has positioned the token inside a major resistance zone that spans from $2.31 to $2.36. A confirmed breakout above this region — particularly if XRP flips $2.36 into new support — would likely trigger a bullish continuation toward the next resistance levels around $2.44 to $2.45, and possibly $2.61 to $2.62, which represent the highs reached in mid-May.
The key to this move lies in whether XRP can sustain momentum. A clear break above $2.36 could trigger further buying pressure, potentially pushing the price closer to the psychological $2.60 level, which also aligns with Fibonacci extension targets.
Chart Pattern: Rising Wedge Signals Caution
Despite the bullish momentum, technical indicators suggest traders should proceed with caution. On the shorter time frame, XRP appears to be forming a rising wedge pattern, which is typically considered a bearish reversal formation. This pattern would only be confirmed if XRP breaks below $2.27, which could open the door to a short-term pullback.
If such a breakdown occurs, analysts highlight the next support levels at $2.21 and $2.17. A dip toward these zones could be an opportunity for long-term holders, but also a sign that the recent rally might be losing strength.
Trading Volume Still Low – Is This Rally Sustainable?
Some experts warn that XRP’s price surge is occurring amid relatively low global trading volumes. Historically, major breakouts in XRP have been accompanied by daily volumes exceeding $10 billion — a threshold that hasn’t yet been reached during this move.
This has led some analysts to caution that the price action may be part of a short-term pump, potentially driven by whale activity or coordinated buying on specific exchanges. Nevertheless, data shows XRP is still in a strong uptrend, and current market structure remains intact unless $2.27 is broken.
XRP Whales Show Continued Confidence
Blockchain analytics from Santiment reveal a notable rise in whale wallets holding large XRP balances. As of now, there are 2,742 wallets with over 1 million XRP, just one fewer than the all-time record of 2,743. These whales collectively hold over 47.32 billion XRP, indicating continued confidence in Ripple’s long-term growth potential.
This level of accumulation typically reflects strong hands who are not easily shaken by short-term price swings. When whale accumulation aligns with price strength, it often signals bullish undercurrents within the market.
XRP Trading in Korea Skyrockets
Interestingly, XRP trading volume has also surged on South Korea’s Upbit exchange, where it outpaced global giants like Binance. A staggering $269 million in spot volume was recorded on Upbit in just 24 hours, with $161 million occurring in a single hour — a spike that is unlikely to be driven by retail traders alone.
This trend could indicate growing regional demand, or strategic repositioning by institutions and high-net-worth individuals. Either way, South Korean traders appear to be playing a critical role in XRP’s recent rally.
What’s Next for XRP?
Looking ahead, the XRP market faces a make-or-break scenario. A confirmed breakout above $2.36 would likely signal bullish continuation toward $2.60, and potentially toward $2.80–$3.00 if volume and momentum persist. On the flip side, a breakdown below $2.27 would put $2.21 and $2.17 in play, offering support for buyers eyeing lower entries.
While the current technical setup is mixed, analysts remain cautiously optimistic. Some have even issued long-term XRP price predictions of up to $10 by year-end, driven by broader adoption, ongoing legal clarity, and Ripple’s expanding partnership network. However, such forecasts should be taken with caution and weighed against actual on-chain metrics and macroeconomic factors.
Conclusion
XRP’s current rally is testing a key resistance level and drawing increased attention from both retail traders and institutional investors. While short-term volatility remains a concern, the overall trend shows strong buying interest, especially among whales and Korean traders. A breakout above $2.36 could set the stage for another bullish run — but traders should keep a close eye on $2.27 as the critical downside level to watch.
