XRP Price Jumps 8.2% to $3.20 as Volume Surges Past $11.5B—Is $3.37 Next?
Ripple’s XRP continued its upward momentum, climbing 8.22% in the last 24 hours to reach $3.20, as of the latest market update.
Quick overview
- Ripple's XRP surged 8.22% in the last 24 hours, reaching $3.20, with trading volume hitting $11.5 billion.
- XRP ranks third by market capitalization, with a live market cap of nearly $189 billion and a circulating supply of 59.13 billion XRP.
- Technical indicators show strong buying pressure, with XRP breaking above key resistance levels and confirming an upward trend.
- Traders should monitor breakout follow-through, volume validation, candlestick formations, and regulatory news for potential impacts on XRP's price.
Ripple’s XRP continued its upward momentum, climbing 8.22% in the last 24 hours to reach $3.20, as of the latest market update. Trading volume skyrocketed to $11.5 billion, suggesting growing trader interest amid a broader crypto market rebound. XRP now ranks third by market capitalization, holding a live market cap of nearly $189 billion.
The coin’s circulating supply stands at 59.13 billion XRP, while the total max supply remains capped at 100 billion. This bullish move reflects renewed investor confidence and could be influenced by expectations surrounding Ripple’s legal clarity and institutional adoption efforts.
The increase also coincides with broader risk-on sentiment in crypto, aided by Bitcoin’s stability and growing demand for alternative layer-1 ecosystems.
XRP/USD Technical Chart Signals Strength
From a technical standpoint, XRP has broken decisively above the midline of its ascending channel, a bullish signal that reflects strong buying pressure. The 2-hour chart shows clear higher lows, confirming the upward structure, with XRP now pushing past the key $3.1270 resistance.
Two consecutive large bullish candlesticks, resembling a possible “three white soldiers” continuation pattern, hint at strong momentum. XRP is also trading well above both the 50-period EMA ($2.92) and 200 EMA ($2.59), confirming short- and long-term trend alignment. Traders often see these conditions as green lights for continued upside.
Key resistance lies ahead at $3.3140 and $3.3702. Support now rests at $3.1270, followed by $3.0670 and the breakout base near $2.9873. Volume confirmation will be crucial to validate any continued breakout.
XRP/USD: What Traders Should Watch Now
XRP’s rally places it at the center of attention for both retail and institutional investors. While the momentum is strong, several factors could influence the next move:
- Breakout follow-through: Sustained price action above $3.31 may open the door to test $3.37 and beyond.
- Volume validation: Surging volume often accompanies strong breakouts. A dip in volume might suggest buyer fatigue.
- Candlestick formations: Watch for a spinning top or shooting star near resistance, which could signal a short-term pause or reversal.
- Regulatory news: Ongoing developments in the Ripple-SEC case may impact sentiment.
While the setup is bullish, traders should remain mindful of volatility and manage risk appropriately.
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