XRP Rallies 8% on Rising Institutional Bid, Eyes $3.40 After 'Triangle Breakout'

What to know:

• XRP rose 6.04% from $2.77 to $2.93 between July 13 06:00 and July 14 05:00, with a $0.171 range and clear breakout through the $2.84 resistance level.
• Institutional accumulation appeared at 03:00, when trading volume spiked to 176M — double the hourly average — confirming breakout strength.
• XRP closed above $2.91 despite intra-session profit-taking, with final-hour consolidation indicating a healthy cooldown.
• Market cap now stands at $163.98B after a $30B weekly addition, pushing XRP to the #3 spot in global crypto rankings.

News Background
XRP’s rally follows a clean break from a multi-session descending triangle pattern, with sustained institutional flows confirming renewed market interest.
Analysts cite improving regulatory signals and Ripple’s expanding enterprise adoption as catalysts for inflows, while broader crypto markets remain supported by softening macro policy expectations and favorable capital markets conditions.
With the $2.84 zone cleared and held, momentum traders now eye the $3.40 level as the next major resistance zone.

Price Action Summary

• Range: $0.171 | Low: $2.77 → High: $2.934
• Breakout Time: 03:00 hour with 176M volume
• Support Zone: $2.77 (early session); $2.91–$2.92 (late session hold)
• Resistance: $2.934 intraday; $3.40 projected next
• Final Hour (04:05–05:04): XRP rose from $2.927 → $2.930 (+0.11%)
• Hourly Volume: ~85M during final session, confirming sustained interest

Technical Analysis

• XRP broke out above $2.84, confirming a descending triangle breakout
• Price held above $2.91 throughout final hour, forming a tight consolidation band
• Structure remains bullish with rising higher lows and sustained volume
• Volume-led breakout and follow-through indicate institutional support
• If XRP can clear $2.94–$2.95 cleanly, $3.10 and $3.40 open as next upside targets

What Traders Are Watching

• Can XRP flip $2.934 into support and extend rally toward $3.10–$3.40?
• Watch for downside tests of $2.91 — a breakdown there could invite a move toward $2.84 retest
• Volume remains key: continued 100M+ hourly volume signals institutional follow-through

Takeaway
XRP’s 6% rally isn’t just technical — it’s capital-backed. Volume at the $2.84 breakout zone confirms large-buyer participation, while price action into the close shows composure.

As the market now eyes the $3.40 breakout target, XRP continues to trade like a leader — not a laggard.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.