XRP has surged by 6.04%, moving from $2.77 to $2.93 in a 24-hour period ending on July 14, 2025. This rally has captured the attention of traders and analysts alike as it sliced through the $2.84 resistance, driven by a surge in institutional interest. A notable spike in trading volume at 03:00 confirmed the strength of this breakout, doubling the hourly average to 176 million. As the market closed above $2.91, despite some profit-taking, the session ended with a healthy consolidation, signaling a potential continuation of this upward trend.
Institutional Interest Fuels Momentum
The narrative around XRP is rapidly evolving. The recent rally came on the heels of a decisive break from a descending triangle pattern, a technical setup that many traders had been closely monitoring. This pattern, combined with increasing institutional flows, suggests a renewed market interest in XRP. According to crypto analyst Jordan Lin, “The breakout above $2.84 wasn’t just a technical move—it was backed by significant capital inflow, hinting at strong institutional backing.” As explored in our recent coverage of how bots might be driving XRP’s price volatility, algorithmic trading could also be influencing these significant price movements.
Adding to XRP’s momentum is the broader crypto market’s environment, which remains buoyed by easing macroeconomic policies and positive capital market conditions. Ripple’s expanding enterprise adoption and improving regulatory landscapes are also seen as catalysts for the recent inflows. This sentiment is reflected in XRP’s market cap, which now stands at an impressive $163.98 billion, marking a $30 billion increase over the past week and securing XRP’s position as the third-largest cryptocurrency by market capitalization.
Eyes on the $3.40 Target
With the $2.84 resistance now firmly in the rearview mirror, momentum traders are eyeing $3.40 as the next major resistance level. Technical indicators are flashing bullish signals, with higher lows and sustained volume underpinning the current structure. “The price holding above $2.91 throughout the final hour suggests a robust support base,” notes Lin. “Should XRP manage to clear the $2.94–$2.95 range cleanly, we could see it testing $3.10 and eventually $3.40.”
Traders, however, are keeping a close watch on the $2.91 support level. A breakdown here could trigger a retest of the $2.84 level. Volume remains a critical factor; ongoing hourly volumes exceeding 100 million will be essential for maintaining institutional interest and supporting any further upward momentum.
A Leader in the Making?
XRP’s latest rally isn’t merely a flash in the pan. The volume-led breakout at the $2.84 zone underscores significant buyer interest, distinguishing XRP as a leader rather than a follower in the crypto arena. As the market anticipates a potential move toward the $3.40 target, the question remains: Can XRP sustain its leadership and continue its ascent? This follows a pattern of institutional adoption, which we detailed in our coverage of Mercado Bitcoin’s plan to tokenize $200M in real-world assets on XRP Ledger.
As we move forward, traders and analysts alike will be keenly observing whether XRP can flip $2.934 into a solid support zone, paving the way for the next leg of its rally. The dynamics of institutional participation, alongside technical developments, will be pivotal in determining XRP’s trajectory in the coming months.
In this ever-evolving crypto landscape, XRP’s recent performance raises intriguing possibilities and challenges for investors. Will this momentum hold, or will market forces test and perhaps temper the exuberance? As always in the world of cryptocurrency, volatility and opportunity walk hand in hand.
Source
This article is based on: XRP Rallies 8% on Rising Institutional Bid, Eyes $3.40 After ‘Triangle Breakout’
Further Reading
Deepen your understanding with these related articles:
- Crypto Price Analysis July-04: ETH, XRP, ADA, SOL, and HYPE
- Key Market Dynamic Keeps Bitcoin, XRP Anchored to $110K and $2.3 as Ether Looks Prone to Volatility
- Crypto Traders Shrug Off Dormant Bitcoin Whale Moves, With Profit-Taking on XRP, DOGE, SOL
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
