XRP Nears Seven-Week High Above $2.39 Amid Rising Whale Accumulation and Increased Trading Volume
2025-07-10 09:07:03
Main Idea
XRP's price surged to a seven-week high above $2.39, driven by significant whale accumulation and increased trading volume, with technical indicators suggesting strong momentum but potential short-term pullbacks.
Key Points
1. XRP reached a seven-week high above $2.39, marking its highest level since late May.
2. Whale accumulation is notable, with 2,742 wallets now holding over 47 billion XRP, indicating supply consolidation.
3. XRP's 24-hour trading volume surged by 74.1% to $4.54 billion, validating the price breakout.
4. Derivatives market activity also increased, with XRP's volume rising by 77.68% to nearly $10 billion and open interest climbing over 10%.
5. Technical indicators show strong momentum, with XRP above all key moving averages and an RSI of 66, but short-term oscillators suggest potential pullbacks.
6. Key price levels to watch include $2.50 as an immediate target and $2.63 as critical resistance, while a drop below $2.30 could signal a failed breakout.
Description
XRP surged to a seven-week peak above $2.39 on July 10, driven by heightened investor interest and a notable rise in large wallet holdings. Data from Santiment reveals a growing
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