A Rally Driven by Surging Volumes
In a broadly mixed market context, where Bitcoin and Ethereum are still searching for direction, XRP’s performance stands out. Nevertheless, a significant surge in trading volumes on major platforms has suddenly propelled XRP up by 6%.
This intense activity suggests a return of interest from speculators and potentially whales, who appear to be accumulating the asset at strategic levels. Unlike an artificial pump with no volume, this type of movement, supported by growing liquidity, generally provides more robust signals to on-chain analysts.
However, caution remains warranted. While sentiment is turning bullish in the short term, the market remains fragile. Traders are now watching whether this buying pressure will be sufficient to maintain the price above key moving averages in the next 24 hours.
Technical Analysis: Real Breakout or Bull Trap?
Taking a step back on the 2-week chart, we can see the price trading at the lower end of its range. The token must absolutely hold $2.09 to attempt reaching the mid-range around $2.7.
The two order blocks (bearish and bullish) on the 16-hour timeframe clearly illustrate this indecision among XRP investors. Indeed, its price is trapped in a battle between buyers and sellers between $2.4 and $1.98.
The break of support or resistance will therefore determine its next move.
How High Can XRP’s Price Climb This Week?
If the current momentum continues and volume doesn’t weaken, XRP could quickly target the next liquidity zone located a few points higher. A clean break of resistance at $2.74 would push Ripple’s token toward its ATH.
Conversely, a failure below this critical threshold could send the price back to its accumulation zone. Investors must therefore closely monitor the order book: does XRP have enough fuel to smash through this sell wall?
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