XRP’s 8% Weekly Surge: Can It Smash Through $2.2 or Will Traders Cash Out?

XRP bulls are charging—but the real battle starts now.

The cryptocurrency clawed back an 8% gain this week, setting the stage for a make-or-break moment at the $2.2 resistance level. Will it punch through or trigger a wave of profit-taking?

Market watchers are split. Some see a breakout brewing, while others brace for the classic 'buy the rumor, sell the news' dance—because nothing says crypto like irrational exuberance followed by panic selling.

One thing’s clear: XRP’s next move could set the tone for the rest of Q3. Buckle up.

Source: Peter Brandt/X

If Brandt’s projection plays out, the potential bearish target WOULD be as low as $0.05, over 77% crash.

However, the altcoin was up 8% this week and traded at $2.1, meaning it was far from the $1.8 risk level flagged by Brandt. 

“We believe XRP will double”

The above bearish prospect was contrary to Canary Capital’s double growth forecast. In an April interview with Schwab Network, Canary’s CEO, Steven McClurg, said,

“There’s a few that we believe will outperform Bitcoin this year, such as XRP…I think most of these will double”

For perspective, XRP outperformed bitcoin [BTC] by over 400% in late last year. So, repeating a similar move against BTC won’t be surprising.

However, so far in 2025, XRP has lagged behind BTC, dropping over 40% against the king coin. 

Source: XRP/BTC, TradingView

Still, price action won’t have it easy. According to Glassnode’s Cost Basis data, $2.2 marks the average acquisition price for nearly 2 billion XRP.

If holders choose to break even here, resistance could build fast. The next supply-heavy zone lies between $2.3–$2.4, where over 1 billion XRP were bought.

Source: Glassnode

Meanwhile, XRP traded at $2.19 at press time, but there was no sign of an overheated market or sell-off despite massive supply around the level. 

Profit-taking eased 3x. So, is selling pressure dead?

Here’s the encouraging twist: despite the looming supply zones, profit-taking has eased dramatically. According to Glassnode, the rate of profit-taking from XRP hit around $151 million per day in mid-June.

However, the sell-off has eased to $47M this week, nearly a 3x decline in pressure. This suggested XRP’s potential for extended recovery amid weak selling. 

Source: Glassnode

On one side: Brandt’s warning of a steep drop if $1.8 fails. On the other hand, Canary’s call for a breakout and potential double.

But in the middle stands $2.2. Whether this level breaks or holds could decide which prediction plays out first.