XRP Prints Bullish Reversal, Volume Confirms Recovery Toward $3

What to know:

• XRP rose 1.79% from $2.89 to $2.95 between July 15 13:00 and July 16 12:00, after dropping as low as $2.84 early in the session.
• Trading volume spiked to 134.08 million during the initial decline, with strong buy-side absorption near $2.84–$2.85.
• In the final hour, price rebounded from $2.94 to $2.95 on back-to-back volume bursts of 1.3 million and 1.8 million, validating breakout strength.
• Overall session range: $2.84–$2.96 (3.73% volatility).

News Background
After a volatile start, XRP regained composure and climbed steadily throughout the day. Analysts attribute this rebound to corporate treasury inflows and tactical rotation into digital settlement assets.
While $3.00 remains a psychological barrier, intraday structure now reflects growing bid support and breakout conviction — with positioning ahead of the July 18 ProShares ETF launch likely reinforcing flows.

Price Action Summary

• Range: $2.84 → $2.96 | Net Gain: $0.06 (1.79%)
• Support Zone: $2.84–$2.85 validated by institutional buying
• Breakout Levels: $2.94 cleared during final hour after multiple rejections earlier
• Final Hour (11:11–12:10): XRP rose from $2.94 → $2.95 (+0.69%)
• Volume Spikes: 1.3 million (11:46), 1.8 million (11:56) on upside breakout

Technical Analysis

• Recovery from $2.84 coincided with elevated volume and clear support zone formation
• Final-hour breakout above $2.94 confirms near-term bullish bias
• Uptrend channel forming on intraday charts; short-term resistance: $2.96
• If $2.95–$2.96 is flipped into support, breakout to $3.00–$3.05 becomes actionable
• Bearish invalidation level sits at $2.88 on renewed weakness

What Traders Are Watching

• Can XRP close above $2.95 on expanding volume to confirm breakout structure?
• Watch for a decisive move above $2.96 to open the $3.00–$3.05 range
• Support must hold at $2.85–$2.88 to keep bullish channel intact
• Institutional volume >100 million and breakouts with 2 million+ bursts are key tells

Takeaway
XRP’s session was defined by early weakness — and strong recovery. Volume-supported buying at $2.84 and a clean push into $2.95 have reestablished bullish momentum.
Now, all eyes are on $3.00. A break above that level — with real volume — could unleash the next leg higher.

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.

Source