Kraken Traders Eye XRP Breakout as Price Nears Key Resistance Levels

XRP has demonstrated a strong recovery, surpassing the $2.25 support level and stabilizing around $2.32 on Kraken''s XRP/USD trading pair. The cryptocurrency is exhibiting bullish momentum, supported by a newly formed trend line that suggests potential further gains. A decisive breakout above $2.32 could propel the price toward $2.40, with extended upside targets at $2.42 if buying pressure continues. This upward movement aligns with broader market trends, indicating growing investor confidence in XRP. Traders on Kraken are closely monitoring these key resistance levels for signs of a sustained bullish rally.

XRP Price Regains Traction as Bulls Eye Key Resistance Levels

XRP has staged a notable recovery, climbing above the $2.25 support level and now consolidating NEAR $2.32. The cryptocurrency, traded on Kraken as XRP/USD, shows bullish momentum with a newly formed trend line supporting further upside.

A decisive break above $2.32 could open the path toward $2.40, with potential for extended gains toward $2.42 if buying pressure sustains. The current price action mirrors broader market trends seen in Bitcoin and Ethereum, suggesting renewed institutional interest in digital assets.

Technical indicators reinforce the positive outlook. XRP maintains position above both its 100-hour moving average and a critical Fibonacci retracement level, while trading volume patterns confirm accumulation at current levels. Market makers appear to be building liquidity around these key price points.

Pump.fun Deposits $20M in SOL to Kraken, Continuing 2025 Sell-Off Trend

Pump.fun has transferred another 132,180 SOL ($20.87M) to Kraken, maintaining its biweekly liquidation pattern. The platform has now offloaded $404.64M worth of solana tokens this year—surpassing its entire 2024 divestment of $303M.

On-chain data reveals Pump.fun accessed over 2.47M SOL without engaging in staking or DeFi protocols, opting instead for direct exchange liquidations. The MOVE highlights the platform''s extractive approach to Solana''s ecosystem, despite preparing for a potential $1B token generation event.

Kraken remains the primary beneficiary of these transactions, receiving bulk deposits that underscore Pump.fun''s preference for immediate liquidity over yield-bearing strategies. Residual SOL holdings in affiliated wallets now stand at approximately $100M.