XRP has outpaced its competitors as the crypto of choice among retail investors, reclaiming $3 during Monday trading as $11.8 billion volume bolsters the near-term XRP price outlook.
This growing momentum suggests the recent 25% weekly gain could just be the beginning, particularly as the altcoin continues to outpace BTC and ETH in daily returns.
BTC and ETH lag as the lead continues to widen, seeing just 10.5% and 19% weekly gains, respectively.
The South Korean Market is Behind XRP’s $3 Move
According to a July 12 X post from popular analyst Dom, a net spot market buy pressure of 45 million XRP was behind the move from $2.60 to $3.00.
Notably, this inflow has been largely driven by international interest. South Korean exchange Upbit accounted for over 70% of the total volume, pointing to a strong global appetite.
XRP Cumulative Volume Delta on different exchanges. Source: X, @traderview2.
By contrast, market leader Binance registered negative flows, while Coinbase (11%), Kraken (9%), and Bitstamp (6%) played smaller roles in fueling the rally.
Many of these traders, having missed out on Bitcoin’s early growth, have turned to altcoins like XRP.
While some question the sustainability of retail-driven price movements, Dom suggests that such dynamics reflect the evolving nature of regional markets.
XRP Price Analysis: Can Bitcoin Really Be Flipped?
South Korean influence has propelled XRP beyond the falling wedge that’s capped its price since late February, triggering a breakout that could redefine the altcoin’s trajectory.
XRP / USDT 1-week chart, falling wedge breakout. Source: TradingView, Binance.
While much of the initial momentum has been realized, XRP has yet to reach its technical target at the 2.618 Fibonacci extension near $4.365—a further 46% upside.
However, a rejection at $3 in line with past peaks could see a healthy correction unfold, with a potential floor at the 1 Fibonacci level at $2.66 as volatility cools.
Still, momentum signals suggest this rally may still have room to run. The weekly RSI remains below the overbought threshold at 65, suggesting that buyers have yet to reach exhaustion.
More so, the MACD line has also surpassed the signal line in a golden cross after over four months of bearish dominance.
On the weekly timeframe, this is often an early indication of a potential long-term trend reversal.
While overtaking the leading cryptocurrency is a bold target, wider market-warming narratives continue to add merit to XRP as a legitimate contender in this cycle.
This week, the U.S. House is expected to vote on major crypto legislation, including the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act.
XRP stands to benefit more than most. With its longstanding SEC lawsuit nearing resolution and a spot ETF in the cards, retail interest may soon extend to global institutional investors.
If that happens, XRP could form a new floor backed by serious capital inflows, supporting its long-term growth.
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