XRP rallied nearly 6% in late trading on Wednesday, fueled by institutional flows, whale transfers, and renewed retail interest, with Google search trends for “XRP to $3” hitting multi-month highs.
Breakout Above $2.20 Sparks Momentum
The rally saw XRP rise from $2.19 to a session high of $2.23, before consolidating between $2.19 and $2.20 in a sign of new support being established. The breakout was marked by a massive volume spike of 108.12 million XRP, nearly four times the hourly average, signaling real capital flow behind the move.
Price action confirmed a bullish breakout zone between $2.19 and $2.23, with strong accumulation pressure visible in the final hour.
Whales Move Billions — Market Holds Strong
On-chain data revealed two major whale transactions during the breakout:
- A $58 million XRP transfer to Coinbase.
- A $439 million Ripple transfer to an unidentified wallet.
Despite typical bearish pressure from large transfers, XRP price held firm, underlining growing investor confidence.
This resilience comes as broader crypto market sentiment stabilizes, with Bitcoin recovering to near $108K and altcoins showing renewed strength.
Retail Searches for ‘XRP to $3’ Accelerate
According to Google Trends data, searches for “XRP to $3” have sharply increased, reflecting rising retail interest in XRP’s next leg. Technical analysts are eyeing the July–September breakout window as critical, with $3 to $5 upside projections forming a consensus among bullish models.
Technical Snapshot: Breakout Validation
- XRP surged 5.87% in final session hour from $2.19 to $2.20
- Volume hit 108.12M XRP, 4x hourly average
- Session high reached $2.23, forming new short-term resistance
- Support range now sits between $2.17 and $2.19
- Breakout began at 01:28 UTC, with peak momentum at 01:33–01:36 UTC
- Strong bids reappeared at 02:00, indicating continuation potential
If price sustains above $2.20, next targets sit at $2.30 and $2.45, with $3 in sight if momentum persists.
Regulatory Catalyst Still in Play
The Ripple v. SEC legal battle remains a key wildcard. While no final ruling has been made, clarity on XRP’s regulatory status could act as a significant bullish catalyst.
A favorable resolution may unlock institutional capital flows, further supporting the $3 narrative.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.