- XRP’s bullish momentum strengthens as price breaks above $2.28 with rising volume.
- Technical indicators signal room for growth as RSI remains below overbought levels.
- Surge in open interest and trading volume confirms market confidence in XRP rally.
XRP continues to show strength in early July as bullish sentiment pushes the token closer to a key resistance level. On July 3, XRP posted a 3.97% daily gain, lifting its price to $2.28. This marks a solid reversal from its recent low of $2.16, reflecting renewed buying interest and increasing market activity.
With volume soaring by over 40% and open interest climbing sharply, XRP is flashing signs of a potential continuation toward the $2.30–$2.32 resistance range. The broader technical outlook hints at a consolidating uptrend, with room for further gains if critical levels hold.
Solid Technical Foundation Supports Uptrend
The intraday chart reveals three distinct phases in XRP’s price behavior. Initially, the asset declined to a local low near $2.16.
This drop marked the start of a short-lived bearish phase, which quickly reversed. A sharp upward move pushed XRP past $2.26, forming higher highs and higher lows. This structure often signals the beginning of a strong uptrend.
Source: CoinMarketCap
Besides this, XRP consolidated between $2.22 and $2.26, gradually forming a stable support base. The breakout to $2.28 confirms bullish control, at least in the short term.
Support levels at $2.16, $2.22, and $2.25 now serve as important zones to watch in case of any pullbacks. If these levels hold, the next challenge lies in breaking and sustaining above $2.28.
Moreover, XRP’s MACD indicators support this upward momentum. A bullish crossover occurred, with the MACD line now above the signal line. The histogram has turned positive, showing increasing momentum.
The Relative Strength Index (RSI) stands at 57.07, well below overbought levels. This suggests more room for upside before a correction becomes likely.
Market Participation and Liquidity Strengthen the Bullish Case
XRP/USD daily price chart, Source: TradingView
A significant factor boosting XRP’s outlook is the sharp rise in trading activity. The 24-hour volume spiked to $4.08 billion, up over 40%, signaling aggressive market participation. Additionally, the volume-to-market cap ratio remains healthy at 2.97%, indicating strong liquidity.
Source: Coinanalyze
Open interest also confirms bullish conviction. The total open interest surged by nearly 10%, now sitting at $1.9 billion. Perpetual contracts dominate this figure, with Binance and Bybit leading in market share. Binance holds $809.2 million in open positions, followed closely by Bybit’s $685.6 million.
What to Watch on July 4
If XRP holds above $2.25 and breaks $2.28 with volume support, a rally toward $2.30 and beyond looks likely. Conversely, a dip below $2.22 may test bullish resolve.
