XRP Breakout, Up by 5% as Ripple CTO Regrets Selling at $0.10
Ripple (XRP) price broke out, rising about 5% to $1.13 on Tuesday, outperforming a broader market rally driven by investors’ optimism and a technical breakout above key resistance.
The token price move aligns with a general risk-on shift as Bitcoin reclaimed $65,000 on renewed ETF inflows and a rebound in Asian tech stocks.
Technical traders reported that XRP broke above a key resistance band between $1.11 and $1.14, a level analyst had highlighted.
The price move was validated by a significant 73% increase in 24-hour trading volume to $1.32 billion, indicating strong buying conviction.
The price action signals a shift in market structure, with buyers overcoming a persistent selling wall. High volume confirms this isn’t a low-liquidity spike.
Traders said a sustained close above $1.14 will confirm the breakout’s strength and target the next Fibonacci extension level near $1.18.
The entire crypto market rose over 2% in 24 hours, led by Bitcoin’s 2.4% gain to $65,682. This rally was fueled by a second consecutive week of net inflows into U.S. spot Bitcoin ETFs, totalling $273.1 million over two weeks, signalling a pause in institutional outflows.
XRP benefited from a general risk-on sentiment. Its 3.94% gain slightly outperformed Bitcoin’s beta, suggesting some coin-specific interest layered on top of the market move.
The immediate path hinges on holding the $1.11 breakout level. A concrete upcoming catalyst is the U.S. Senate’s decision on the Clarity Act, which must pass before the August 7 recess to avoid delay. If the bill passes, it could catalyse institutional flows; if it stalls, the recent gains may consolidate.
The short-term bias is cautiously bullish above $1.11, but the move lacks a major, verified fundamental catalyst and remains sensitive to broader market direction and regulatory news.
The combination of a technical breakout and improving market-wide liquidity creates a constructive near-term setup, though the rally lacks a definitive fundamental spark.
Ripple CTO David Schwartz claims that his decisions to sell XRP at $0.10 and Ethereum at around $1 were driven by his strong aversion to risk rather than a lack of faith in crypto.
He admitted that he regrets selling some of his early cryptocurrency holdings. Despite once owning a significant amount of XRP, Schwartz has said that he has largely reduced his cryptocurrency exposure and “does not have much left anymore.
He says his decision was driven mainly by his aversion to risk, which he “really, really” hates. “Obviously, I wish I hadn’t done those things,” Schwartz replied
Schwartz’s early XRP position in the token was substantial. At the peak, he held approximately 26 million XRP. At my peak holding, I had about 26 million XRP,” Schwartz said. #XRP Breakout, Up by 5% as Ripple CTO Regrets Selling at $0.10#
