XRP Builds Ascending Channels and Retests $3.23 Ceilings on Surging Volumes

Ripple’s native token extended its July rebound, advancing 1.3 % over the most recent 24-hour session. Price action carved a sequence of higher lows—$3.16, $3.18, $3.20—forming an ascending channel that carried XRP to a session peak of $3.23 before modest profit-taking. On-chain analytics platform Santiment reported a 22 % jump in addresses holding at least 1 million XRP, signalling renewed whale interest. Exchange order books indicate thick sell interest between $3.24 and $3.27, coinciding with the upper edge of the channel. Afternoon volumes exceeded 80 million tokens in back-to-back hours, the strongest showing since the July 18 ETF-speculation spike. Derivatives data from Bybit reveal funding turning slightly positive, but open interest remains only 5 % above last week, suggesting the move is driven primarily by spot demand rather than leveraged longs. Traders are watching for a decisive break and daily close above $3.25 to unlock targets at $3.35 and $3.50, levels last seen in April. Downside invalidation sits at the channel base near $3.15. Broader sentiment around Ripple continues to improve after the company’s partial court victory in 2024 and speculation that pending U.K. e-money licence approval could widen institutional usage of its payments platform. Nevertheless, macro risks, including Wednesday’s FOMC and any reversal in bitcoin momentum, could stall the token’s advance.