XRP News Today: XRP Surges 10% to $3.50, Bullish Momentum Drives New All-Time Highs

XRP has been experiencing a significant surge in momentum, with the cryptocurrency reaching new all-time highs above $3.50 in July. This surge has been driven by a combination of technical indicators and market dynamics, positioning XRP as a potential leader in the next phase of the crypto market cycle.

The XRP/BTC trading pair is currently nearing the top of a four-year consolidation channel, which has been in place since the start of the year. This long period of consolidation is often a precursor to an explosive move, and the current bullish momentum suggests that a breakout could be imminent. A successful move above this technical resistance, especially with volume support, could confirm a bullish breakout and signal a potential shift in market dynamics, positioning XRP for relative outperformance against Bitcoin.

Several technical indicators are aligning with the bullish narrative for XRP. The Guppy multiple moving average indicator has turned bullish for the first time this year, with short-term exponential moving averages moving upward and surpassing long-term bands. Additionally, the golden cross, where the 50-day simple moving average crosses above the 200-day SMA, has occurred, further reinforcing the bullish outlook. These indicators suggest that XRP's price could continue its uptrend in the short term.

Earlier this month, XRP broke above its January high of $3.39 and then pulled back slightly to retest the level. The successful retest, followed by renewed buying, adds confidence to the XRP bull momentum case. This breakout and retest formation is generally considered a confirmation of the market, indicating that bulls are keen to move higher.

XRP's performance against Bitcoin is also noteworthy. With Bitcoin trading laterally, XRP bulls are gaining strength. The top of the channel being exceeded by the XRP/BTC pair may trigger a wave of altcoin dominance. The price of Bitcoin has stabilized, and the 50-, 100-, and 200-hour SMAs have converged, opening the opportunity for XRP to become the market leader, particularly as investors show interest in more active assets.

Looking ahead, the next nearest resistance levels for XRP are at $3.66 and $4.00. If bullish pressure persists, new all-time highs may be achieved following a breakout beyond $4.00. Major support levels can be noted at $3.35, $3.00, and $2.65. A failure to hold the price at $3.35 may slacken the near-term outlook, but the current impetus points to the fact that buyers are in command. The support level of $3.00 is also considered a good price base.

Despite the strong XRP bull momentum, many traders are waiting for technical confirmation before committing capital. A confirmed breakout of the XRP/BTC ratio with high volume would serve as a signal for trend-following strategies and longer-term positioning. AI sentiment tools also suggest that traders prefer to wait for a close above resistance, especially given the long duration of the current consolidation. Until then, XRP is expected to remain in a high-alert watch zone for both institutional and retail investors.

XRP has one of the strongest bull momentum, leaving it as one of the best altcoins to monitor during the existing market cycle. With good technical readings, a clean bullish break, and a bullish trading stance when compared to Bitcoin, XRP may be positioned in a new growth window. Bitcoin is lost in its direction, and Ethereum has been hitting ceilings; XRP has an opportunity to be the center of attention. The trading sessions of the next few days will be critical to the determination of whether XRP is going to bust out with a vengeance, initiating a new leg up.

XRP’s recent surge, technical alignment, and strength against Bitcoin all point to a market poised for change. XRP bull momentum is now supported by bullish moving averages, successful retests, and long-term accumulation patterns nearing resolution. With key resistance levels in sight and consolidation nearing its end, XRP could soon emerge as a leading force in the crypto market. The bullish narrative will be confirmed if a breakout is sustained above the XRP/BTC channel, potentially marking the beginning of a new uptrend for XRP in both USD and BTC terms.