XRP News Today: XRP Surges 20% in a Week, Analysts Warn of Correction

XRP, the cryptocurrency associated with Ripple, has seen significant price movements recently, driven by regulatory developments and market sentiment. Analyst Michaël van Poppe has cautioned that XRP may be due for a correction following its bullish run, which was fueled by the July 19 approval of the ProShares XRP Futures ETF. This approval pushed XRP's price above $3.40, a level not seen in years, and reignited interest in the altcoin.

According to Poppe, the rally has likely exhausted much of the upward liquidity, indicating that XRP could soon enter a corrective phase. He emphasized that $3.40 is a critical level, warning that failure to hold above it could trigger a “significant correction.” In such a scenario, he identified the $2.70 to $3 range as a potential accumulation zone. Additionally, the breakout zone near $2.20, which served as the launchpad for the recent surge, may come into focus. If selling pressure intensifies, traders could look further down toward higher-timeframe support zones at $1.81 and even $1.57 for potential re-entry points.

XRP’s momentum has also been bolstered by other fundamentals, such as the July 18 signing of the GENIUS Act into law. The legislation officially validated Ripple’s RLUSD stablecoin as compliant with U.S. regulatory standards, boosting RLUSD’s market cap and enhancing the utility of XRP, which serves as its settlement layer. At the same time, anticipation is growing around the potential approval of a spot XRP ETF, alongside a rise in institutional interest. Notably, Teucrium’s leveraged 2x XRP ETF has reached $500 million in assets under management.

At press time, XRP was trading at $3.53, up about 1.5% in the last 24 hours and nearly 20% over the past week. The asset is currently trading well above its 50-day simple moving average (SMA) of $2.40 and the 200-day SMA of $1.82, confirming strong bullish momentum. However, the 14-day Relative Strength Index (RSI) stands at 83.47, signaling overbought conditions and a possible short-term pullback despite the broader uptrend.

Key technical levels to watch include the $3.40 to $3.60 range, with $4 looming as the next big hurdle. If momentum holds and Ripple continues to make regulatory progress, some analysts are eyeing a push toward $4.50, or even $6, in the next few months. However, if XRP slips back below $3.00, it could trigger a pullback toward the $2.80–$2.90 zone, especially if the broader crypto market cools off or headlines take a bearish turn.

Analysts have also speculated on potential price targets for XRP in the short, medium, and long term. In the short term, the token could reach $1.50–$2.00, while medium-term targets are set at $5.00–$10.00. Long-term projections for 2025 and beyond suggest even higher milestones, though these are subject to market conditions and regulatory developments.

Despite the bullish outlook, there are risks to consider. A significant correction could loom, especially if the broader crypto market experiences a downturn or if there are unexpected regulatory developments. In such a scenario, the $2.70 to $3 range could serve as a crucial support level, potentially acting as an accumulation zone for investors.

Overall, XRP's price movements are closely tied to regulatory developments and market sentiment. As the token continues to navigate through potential corrections and growth, key price levels to watch include the $2.70 to $3 range, the breakout zone near $2.20, and the $3.40 to $3.60 range. With a shot at a new all-time high and its market cap approaching significant milestones, XRP is poised to remain a top story in the crypto space heading into the fourth quarter.