XRP Eyes Breakout as Price Nears $2.62 with Volume Soaring

• XRP’s price structure tightens, signaling pressure near the resistance zone.
• Major exchanges report billions in XRP volume, boosting market momentum.

XRP is trading near $2.20, showing signs of recovery after months of sideways price action. Crypto analyst Crypto Tony emphasized the importance of the $2.62 resistance zone. 

He noted that reclaiming this level could lead to a renewed bullish trend. The current price structure is tightening, reflecting consolidation and potential for a breakout if market sentiment shifts. 

Data shows XRP has moved within a defined accumulation range for several months. The lower boundary holds near $1.30, while the upper limit remains at $2.62. 

At press time, XRP’s latest price of $2.19 marks a slight 0.62% dip in the past 24 hours, yet the overall structure suggests increasing market tension.

CoinCryptoNewz previous analysis by EGRAG Crypto highlighted a forming “W” pattern labeled as Pattern 10. The pattern suggests a bullish reversal with an expected breakout level around $0.80. EGRAG projects future targets at $15, $22, and $40, while advising partial profit-taking near $6–$7 to manage risk.

Trading Volume Surges Amid ETF Speculation

Trading activity for XRP has surged sharply, with Binance leading at $2.11 billion in volume, according to CoinGlass. Bitget and Bybit followed closely, posting $1.75 billion and $1.07 billion, respectively. MEXC and OKX also showed solid volume, reaching $628 million and $568 million.

Analysts view this broad increase in trading activity as a bullish signal. Many speculate the volume spike may be linked to growing optimism around a potential XRP ETF. With momentum building, some believe the price could see a breakout in the short term.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.