XRP is gaining steam as it nears what could be the second-highest weekly close in the platform's history. As of the time of writing, the currency is trading for $3.16, staying above the key $3.03 level noted by market analysts. This price level highlights a key level of resistance for traders and investors watching XRP.
Market analyst Abs Nassif highlighted this level on X, stating that “anything above $3.03 is golden.” Maintaining a price above this level could represent a notable achievement for XRP in 2025, a year that already appears very promising for the asset.
In 2025, XRP has shown strength and upward price progress. It reached a year-to-date high of $3.65 earlier in July, surpassing previous records. Following that high, XRP presented powerful weekly candlestick closes and maintained its position above key moving averages. The digital asset initially closed in the range above $3 in January and maintained this position for 16 consecutive days, indicating a shift in market dynamics.
XRP remains strong with technical indicators. The 7-week moving average currently hovers around $2.60, whereas the long-run 50-week and 100-week moving averages are considerably lower, at approximately $ 1.89 and $ 1.22, respectively. The gap indicates that there is healthy up-trend momentum and continued investor interest. Provided that XRP maintains its market momentum, it might be expected to revisit the $3.65 mark. Surpassing this would mark new highs, even in the double digits, as some analysts have suggested.
XRP has experienced consistent institutional purchasing and accumulation by large holders, commonly referred to as whales. According to Santiment data, the supply of XRP tokens by entities, ranging from 10 million to 100 million tokens, surpassed 8.31 billion coins, the highest in a month. These holders represent approximately 14% of the circulating supply, indicating that they have a price floor due to reduced selling pressure.
Daily trading volumes have also increased, with spikes well above average during afternoon sessions. XRP traded in a narrow range between $3.15 and $3.23 on July 27, closing near the top of this band. Spikes in volume at key levels indicate signs of high buying interest and potential for further price upside.
In addition, this momentum is backed by network activity, with new wallets being created on the XRP Ledger at an increasing rate—an average of 7,500 a day since mid-July. This growth in the network highlights increased demand and sustained interest by investors.