Key facts
- XRP has surged above $1.20, breaking through multiple resistance levels on strong volume.
- The rally is supported by approximately $1.4 billion in cumulative inflows into XRP ETF products.
- Demand from Asian markets, particularly South Korea's Upbit exchange, is contributing to the price increase.
- Whale addresses holding XRP have reached record highs, indicating increased accumulation by large investors.
- XRP's volume during the breakout session was its strongest since early June.
XRP has experienced a significant price surge, breaking above key resistance levels at $1.14, $1.18, and reclaiming $1.20 on its strongest volume since early June. This upward movement has prompted traders to reassess expectations for further weakness.
The rally is underpinned by growing demand from Asian markets, with South Korea's Upbit exchange accounting for a substantial portion of XRP's wallet-flow dominance. Concurrently, XRP ETF products have continued to attract capital, extending a run of inflows that has brought cumulative net investment to approximately $1.4 billion since their launch.
Technically, the breakout was accompanied by a surge in trading activity, indicating genuine buying interest beyond short-covering. Momentum indicators are showing improvement, with some analysts noting bullish RSI divergences following XRP's rebound from the $1.05-$1.09 support zone. While the broader downtrend remains visible on higher timeframes, bulls are now forcing price through resistance.
Traders are closely watching $1.20 as the first level bulls need to defend. Holding above this level would reinforce the breakout structure, with the next major resistance zone situated between $1.27 and $1.30. A sustained move above these levels could reopen discussions around a broader trend reversal.