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July 11, 2025

Ripple (XRP) Price: 6% Surge Breaks Descending Wedge Pattern Above $2.50 Maisie Morrison | usagoldmines.com

TLDR

  • XRP surged 6% from $2.42 to $2.57, breaking out of a descending wedge pattern with volume 168% above daily average
  • Whale wallets now hold over 47.32 billion XRP tokens, showing strong institutional accumulation
  • Ripple’s RLUSD stablecoin crossed $500 million market cap, boosting ecosystem sentiment
  • Key support formed at $2.53 with resistance at $2.60, traders eyeing $2.70-$2.90 as next targets
  • Technical indicators show bullish momentum with price above 100-hour moving average and MACD in positive territory

XRP experienced a strong price surge on July 10-11, climbing 6% from $2.42 to $2.57. The move represents a breakout from a multi-week descending wedge pattern that had been constraining price action.

Trading volume exploded during the breakout, reaching 219.30 million tokens compared to the 24-hour average of just 81.85 million. This 168% increase in volume provides confirmation of the technical breakout.

The price jump occurred at 21:00 UTC on July 10, with XRP moving from $2.50 to $2.56 in a single hourly candle. The cryptocurrency established fresh support at $2.53 and has been consolidating above $2.54.

Institutional Interest Grows

Whale wallets containing over 1 million XRP now hold 47.32 billion tokens total. This accumulation by large holders suggests institutional investors are positioning for further price appreciation.

Market sentiment improved after Ripple’s RLUSD stablecoin surpassed $500 million in market capitalization earlier this week. The milestone demonstrates growing adoption of the XRP ecosystem.

Traders are also pricing in favorable regulatory developments for Ripple in both U.S. and Asia-Pacific jurisdictions. This regulatory optimism has contributed to renewed institutional participation in XRP markets.

The breakout from the descending wedge pattern carries technical importance. This chart formation historically precedes larger price movements when confirmed by strong volume.

XRP formed a bullish trend line with support at $2.50 on hourly charts. The price currently trades above both this trend line and the 100-hour simple moving average.

Technical Indicators Turn Positive

The MACD indicator has moved into bullish territory while the RSI sits above 50. These momentum indicators support the case for continued upward movement.

Initial resistance emerged at $2.56, which capped the rally during Asian trading hours. The next major resistance levels sit at $2.60 and $2.62.

A clear break above $2.60 could open the path toward the $2.70-$2.90 zone. Some analysts project targets as high as $5.00 if bullish momentum continues.

XRP Price on CoinGecko
XRP Price on CoinGecko

The final hour of July 11 trading showed some profit-taking activity. XRP dipped 0.35% from $2.58 to $2.57, forming a descending channel with lower highs.

Volume spiked to 4.10 million tokens at 03:25 UTC, suggesting possible institutional distribution. This late-session pullback indicates near-term cooling after the sharp rally.

Key support levels to watch include $2.53 and $2.50. A breakdown below $2.50 would invalidate the current bullish structure and could lead to a test of $2.45 or $2.40.

The combination of technical breakout, whale accumulation, and improving fundamentals creates a compelling setup for XRP. The RLUSD stablecoin growth adds another layer of ecosystem development supporting long-term value.

The post Ripple (XRP) Price: 6% Surge Breaks Descending Wedge Pattern Above $2.50 appeared first on Blockonomi.

 

This articles is written by : Nermeen Nabil Khear Abdelmalak

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