XRP News Today: XRP Surges 8% on Strong Institutional Bid, Eyes $3.40 After Breakout
XRP is back in the spotlight. Today, it jumped over 8% in just a few hours. That’s a big move for any cryptocurrency. What caused this surge? A strong institutional bid from big investors is stepping in.
We’ve seen this kind of behavior before. When large firms buy in, it often pushes the price up fast. That’s what’s happening now with XRP. The price is now aiming for $3.40, a level it hasn’t reached in a long time.
But this isn’t just about price. Something bigger might be happening. Ripple, the company behind XRP, is making bold moves like applying for a U.S. banking license. It’s also drawing interest from financial giants, including possible ETF plans.
Let’s find and look at charts, expert opinions, and what traders like us need to know.
Market Snapshot & Institutional Bid Overview
We saw XRP jump about 8%, rising from roughly $2.77 to nearly $2.97 in a short period. The key move took place when it broke past $2.84, a strong resistance level. That breakout came with a surge in trading volume, around 176 million XRP traded in a single hour, nearly double the usual pace, signaling real investor interest.
Over the week, XRP’s market cap climbed by roughly $30 billion, pushing it into the third-biggest crypto spot by market size.
Technical Analysis
The charts show a descending triangle pattern, where XRP formed lower highs against a steady $2.84 floor.
Today, it surged cleanly past that ceiling. It then held above $2.91 in the late session, showing traders are building a solid base.
The flow was also volume-driven, a key sign of genuine breakout energy. If XRP clears $2.94-2.95, the next stops are $3.10 and then the $3.40 target.
Institutional Bid Involvement
Big players are stepping in now. The volume spike came midday, which is a typical sign of institutional funds moving in. On-chain data shows pang whale wallets accumulating heavily.
A recent report flags 2,743 wallets holding at least 1 million XRP each, controlling a combined ~47.3 billion XRP. SBI’s CEO even referred to this trend as a “generational wealth transfer,” spotlighting XRP’s growing legitimacy.
Fundamental Catalysts
Ripple is making bold moves. It’s applying for a U.S. banking license, a step that could open new doors for XRP’s use in remittances and institutional finance. Plus, rising talk of XRP ETFs, including futures ETFs by ProShares launching July 18, and pending spot ETF applications has grabbed big-name attention.
On the legal front, the possibility of the SEC dropping its appeal in the Ripple case (as early as July 17) could remove a major cloud from XRP’s prospects.
Institutional Bid: Risks & Contrarian Views
Still, risks remain. If XRP loses momentum, the breakout might not hold, and the price could fall back near the $2.84 support level. Uncertainty in the Ripple-SEC case also remains, and any unfavorable decision could cause a sharp price drop.
Macro conditions, like shifting interest rates or a broader crypto pullback, might also tame XRP’s run.
Analyst Price Targets & Forecasts
Most analysts now eye a move to $3.40 as the next major resistance zone. But some see even more upside.
Technical projections using Fibonacci expansion and Elliott wave patterns suggest prices could climb toward $6, even eyeing $10-$15 in a strong bull cycle. Short-term traders point to $4.60 as a potential peak if current momentum holds.
What Traders & Investors Should Do?
We need to be alert now. Short-term traders should watch if $2.94-2.95 holds as support. A clean breakout would open the door to $3.10 or $3.40, with rising volume confirming strength.
Medium-term investors should eye legal updates, especially the SEC’s July 17 meeting and ETF news. We suggest staggered entry if fresh catalysts arrive. That way, we ride the upside while managing risk if the breakout fails.
Bottom Line
XRP’s breakout is powered by real capital, not hype. The move above $2.84, backed by strong volume and whale activity, adds weight to the rally. Ripple’s licensing plans and ETF developments further add green light sentiment.
If XRP holds above $2.95, we’re likely headed toward $3.40 and with momentum, maybe even higher. But we keep close watch on volume, legal news, and macro signals. Today’s action could mark a key turning point for XRP.
Frequently Asked Questions (FAQs)
Some experts say XRP could reach $3 to $10 if market trends stay strong. But prices depend on news, demand, and court updates. Nothing is certain.
It’s very unlikely XRP will hit $500 in 2025. That would need trillions in market value, which seems too high based on today’s trends and facts.
Some long-term bulls hope for $10-$50 in a strong market. But most experts believe $3 to $5 is a more realistic target for now.
XRP is rising because big investors are buying in. There’s also hype from banking plans, ETF talk, and hopes for good news in its legal case.
Disclaimer:
This content is for informational purposes only and not financial advice. Always conduct your research.