XRP Rocket Fuel: Price Soars 40% on Banking Breakthrough Hype

Ripple's corridors just got crowded—XRP volume spikes 300% as institutional money piles in.

Banking's worst-kept secret

Every legacy bank now scrambling to 'evaluate blockchain solutions' after Ripple's latest CBDC sandbox win. Translation: they're terrified of being Kodak'd.

Liquidity tsunami

Overnight derivatives open interest hit $2B—market makers are positioning for either a moonshot or catastrophic rug pull. There is no in-between.

The cynical take

Wall Street only loves decentralization when it means front-running retail with better API connections. Happy trading, plebs.

TLDR

• XRP surged past $2.28 resistance level on high volume following Ripple’s banking charter application news
• Price reached a daily high of $2.29 before pulling back to consolidate above $2.24-$2.25 support
• Trading volume exploded by 111% to $10.28 billion while Open Interest increased 6.82% to $5.02 billion
• Technical analysis shows XRP broke above neckline of inverted head-and-shoulders pattern
• Negative funding rates at -0.004% suggest short traders are paying to maintain positions

XRP climbed above the $2.28 resistance level on July 9, 2025, driven by renewed interest in Ripple’s banking charter application. The price surge came with heavy trading volume as investors responded to the regulatory development.

Ripple’s application for a national trust bank charter with the U.S. Office of the Comptroller of the Currency has created a fundamental catalyst for XRP. The MOVE represents deeper integration into the regulated financial system and is viewed as a positive step toward institutional adoption.

The cryptocurrency rallied 2.36% over a 24-hour period, climbing from $2.21 to $2.26. Trading volume peaked at over 67 million units during the 10:00 hour as price pushed through the $2.28 resistance level.

XRP reached a daily high of $2.29 before pulling back and consolidating above support at $2.24-$2.25. The intraday range spanned $0.08, representing a 3.62% trading range with key breakout points confirmed by above-average volume.

Technical Pattern Signals Potential Reversal

Technical analysis shows XRP broke above the neckline of an inverted head-and-shoulders pattern. This breakout suggests a potential trend reversal after weeks of consolidation.

The cryptocurrency traded at $2.29 after tapping a local high NEAR $2.33. This retracement may serve as a classic support retest, often seen after breakout confirmations.

The $2.24-$2.25 area has established itself as strong support after bulls defended this zone during an 18:00 dip. The $2.28-$2.29 area now acts as immediate resistance.

A decisive flip of this zone could open room for a run toward $2.38, which technical analysts are watching as the next major breakout trigger. Traders are monitoring for a sustained close above $2.28 with volume confirmation.

Trading Activity Shows Increased Interest

Open Interest for XRP surged by 6.82%, reaching $5.02 billion, while trading volume exploded by 111.79% to $10.28 billion. These metrics indicate growing interest and confidence among derivatives traders.

Spikes in both volume and Open Interest typically point to strong conviction behind price movements. This renewed activity suggests many participants are betting on sustained upside.

Market Sentiment Remains Mixed

Despite the bullish breakout, the Aggregated Funding Rate across exchanges turned slightly negative at -0.004%. This implies short traders are paying to keep positions open, indicating a contrarian crowd betting on a pullback.

Negative funding rates during rallies have historically led to short squeezes, where short sellers are forced to buy back in. The skepticism reflected in the funding market could act as fuel for further upside if prices continue to defy bearish expectations.

XRP’s NVT Ratio dropped sharply, reflecting a spike in transaction activity relative to its market cap. This shift suggests network utility is improving, often a bullish sign from a fundamental perspective.

Lower NVT values typically indicate healthier blockchain usage, which can enhance investor confidence over time. The recent decrease signals traders and users are engaging more actively with XRP.

In the final 60 minutes of the session, XRP surged from $2.26 to $2.27, a 2.29% jump, with momentum building at 01:30 and 02:01, both marked by sharp volume spikes.