XRP Breaks $1.20 Barrier Gains Gains 9% Amid Volume Surge

The cryptocurrency XRP surged on Monday, breaking through key resistance levels in its strongest rally since early June. The token gained approximately 9% to 11% over a 24-hour period, trading around $1.26 after consecutively clearing price barriers at $1.14, $1.18, and $1.20.

The breakout was driven by a significant spike in trading volume, which climbed more than 170% above typical levels and marked the highest buyer participation in weeks. The rally pushed XRP's market capitalization to approximately $78.4 billion.

Analysts point to two primary factors underpinning the move: a sharp increase in demand from the Asian market and continued institutional investment. Data from June 7 to June 14 shows the dominance of net wallet flows on South Korea's Upbit exchange surged from 13% to 31%, its highest level since May 2024, indicating concentrated buying activity from that region. Simultaneously, exchange-traded products linked to XRP have seen steady capital inflows, with cumulative net investment reaching roughly $1.4 billion since their launch.

From a technical perspective, the advance shifted market dynamics. For the first time since a correction began in early June, buyers...