LONDON (IT BOLTWISE) – XRP recently saw a significant price increase from $2.60 to $2.68, breaking through a key resistance level. This move is accompanied by a dramatic increase in trading volume, indicating growing institutional interest. Analysts expect upcoming regulatory developments and ETF launches could further boost demand.
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XRP, Ripple’s cryptocurrency, recently saw a notable price increase from $2.60 to $2.68. This increase marks the overcoming of a critical resistance level at $2.63, which was accompanied by a dramatic increase in trading volume. This development suggests growing institutional interest, supported by recent comments from fund managers talking about ‘hundreds of millions’ flowing into XRP investment vehicles.
XRP’s price rise coincides with expected regulatory developments and the launch of ETFs, which analysts say could further increase demand for the cryptocurrency. Trading volumes reached approximately 106.5 million units in a single hour of the breakout, up 147% above the previous 24-hour average. These numbers illustrate disciplined accumulation, indicating strategic interest from institutional investors.
Technically, XRP has broken through a multi-day resistance zone with strong volume confirmation, representing a classic signal of institutional accumulation. Support at $2.61-$2.63 is now firmly in place, while immediate resistance lies in the $2.70-$2.75 area. The volume patterns confirm the move: a large increase on the breakout followed by lower volatility during the consolidation suggests absorption.
Traders are now watching two critical behaviors: First, whether XRP can hold support at $2.63; a retest and holding this level would validate the breakout. Second, whether volume remains elevated or increases again, which would increase the chances of the breakout extending towards the $2.70-$2.75 zone. On-chain flows and commentary on institutional products support the accumulation narrative.
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