XRP, the native token of the Ripple ecosystem, has been on the rise in recent days, riding a wave of broader market strength and renewed investor confidence.
Summary
- XRP is trading at $3.25, up about 8% over the past week and 17% from its lowest point this month.
- Whale wallets have accumulated more than 900 million XRP in recent days, reversing last week’s outflow trend and signaling renewed investor confidence.
- Technical indicators remain bullish, with XRP’s price currently above all key moving averages.
According to crypto.news market data, XRP (XRP) is trading at $3.25 at the time of writing. The token’s 24-hour gain is a modest 0.92%, but its performance throughout the week has been strong, up about 8% over the past week and 17% from its lowest point this month.
The token hit an intraday high of $3.35 before readjusting hands to trade at its current $3.2 range. Market capitalization now stands at $192.2 billion, with daily trading volume surging 22% to $10.3 billion, showing strong investor interest.
Why is XRP climbing?
The uptick in XRP’s price is driven by a number of positive factors. The broader crypto market is in an uptrend, with Bitcoin (BTC), Ethereum (ETH), and several other altcoins posting fresh gains on the day.
Ripple’s recent resolution of its long-running legal dispute with the U.S. Securities and Exchange Commission (SEC) contributed another positive boost, removing the uncertainty that weighed on the asset for years. This has led to renewed investor confidence in XRP, with large position holders and whales betting on its price with heavy accumulation.
Market data shows that whales have bought more than 900 million XRP in recent days. This marks a strong recovery from last week’s trend of outflows from large wallets, reflecting renewed conviction in the asset.
Adding weight to the bullish buzz, Nasdaq-listed energy solutions firm VivoPower recently unveiled a treasury strategy dedicated to the native token, with plans to acquire up to $100 million worth over the next few months. Meanwhile, growing hype around a potential XRP ETF is also supporting sentiment, with some analysts placing the odds of regulatory approval and launch this year at 95%, a move expected to act as a major bullish catalyst for the token.
With positive momentum now building, the market is on the lookout for what’s next.
What’s next for XRP price?
Technically, XRP’s trend looks positive. On the daily chart, the token is trading above all key moving averages. The 20-day EMA at $3.14 is the first support to watch, followed by the 50-day EMA at $2.93. The longer-term 100-day and 200-day EMAs sit lower at $2.69 and $2.42, showing that the overall uptrend is still intact.
Over the past week, XRP moved sideways between $3.20 and $3.40. The $3.35–$3.40 range remains a strong resistance zone. If bulls can push the price above this level, the next targets could be $3.60 and possibly July’s high near $3.75.
The daily RSI is at 56.9, above the neutral 50 level but not yet overbought, leaving room for more gains if the ongoing buying pressure increases.
Supporting the positive outlook, derivatives data shows growing trader interest. According to Coinglass data, XRP futures volume jumped 29% to $14.12 billion, while open interest rose nearly 6% to $8.83 billion. Options activity also surged, with volume up over 250% to $10,560 and open interest climbing 64% to $2.02 million.
This increase in leveraged positioning suggests traders are preparing for larger price swings in the days ahead. For now, holding above $3.20 keeps XRP’s outlook bullish, and $3.40 remains the price level to break to extend the rally. On the downside, a drop below $3.20 might see the price retest $3.00 or even $2.90–$2.80.
