XRP Price Rally Pushes Toward $3.50 Resistance Level

XRP price has climbed to $3.29, marking a significant move in the cryptocurrency market. This latest surge reflects growing buyer momentum and signals a possible continuation toward the $3.50 resistance level. The upward movement is supported by a combination of favorable macroeconomic trends, strong on-chain data, and improved technical indicators.

Breaking past the recent consolidation range of $3.05 to $3.15, XRP achieved gains of nearly 4.92% within the daily session. The currency briefly hit an intraday high of $3.32, illustrating that bull strength is overcoming short-term sellers. This rise is attributed to a mix of continued whale accumulation, easing pressure from the U.S. dollar, and rising confidence in international remittance solutions using blockchain technology.

From a technical analysis perspective, XRP has successfully retaken the 20-day exponential moving average now sitting at $3.21, which had acted as a limiting ceiling in previous sessions. The next technical barrier stands at $3.35—a level that has rejected previous attempts to break higher in the last two weeks. A strong close above this area can potentially pave the way for XRP to test the $3.50 mark, which was the high for June.

To the downside, support is currently established around $3.18, with the next psychological support level at $3.00. Previously, this level saw significant buying interest and helped stabilize the coin during recent market dips. Meanwhile, the Relative Strength Index (RSI) sits around 63, indicating bullish momentum without yet signaling overbought conditions, allowing room for further upside.

Recent on-chain activity adds fuel to the bullish outlook. In the past two days, data highlights increased accumulation by large holders, particularly in wallet sizes between 500,000 and 1 million XRP. This trend coincides with shrinking exchange reserves, suggesting a pivot toward holding rather than selling. These large-scale investors have provided buying support in the $3.15 to $3.20 range, positioning XRP on solid footing for potential breakout moves.

Macroeconomic conditions are also playing a role in XRP’s ascent. The weakening U.S. dollar—driven by softer inflation data—has encouraged investment into risk-on assets, including cryptocurrencies. With global settlement volumes rising, particularly in developing economies, XRP is increasingly recognized as a tool for fast and transparent cross-border payments in key corridors such as Asia-Pacific and Latin America.

Although regulatory challenges have long loomed over XRP, recent developments appear to have eased market concerns. The absence of fresh legal actions has been interpreted as a pause in the long-standing battle, improving investor sentiment. Supporting this shift is a notable 9% increase in open interest for XRP derivatives, pointing to renewed trader confidence. Stable funding rates further indicate that the market’s growth is not being fueled by excessive leverage.

Derivatives market data underscores this evolving bullish sentiment. Perpetual contract volumes have risen by $28 million in net long positions since Friday. Analysis of the liquidation heat map reveals concentrated stop zones beyond $3.35 and $3.50. If the price rises beyond these levels with speed, traders could face a short squeeze, driving the asset even higher. Additionally, options data shows a favorable skew toward call options over puts, particularly for strike prices ranging from $3.50 to $4.00 for September expiries.

Considering all the markers — strong technical rebound, high-volume whale accumulation, supportive macro indicators, and positive movement in derivative instruments — the current projection for XRP remains optimistic. The key short-term challenge remains a confirmed breakout above $3.35. If this is achieved, $3.50 becomes a realistic target, with a further extension potentially reaching as high as $3.85, provided broader market conditions do not deteriorate.

Related: XRP Price: $12M Max Pain for Bears

In summary, as things stand, XRP appears well-positioned for further gains, with investors eyeing $3.50 as the next critical milestone.