XRP News Today: Ripple's XRP Holds $3.04 Support Amid Whale Accumulation, Eyes $3.40 Breakout for Rally

Ripple’s XRP has demonstrated resilience by maintaining its position above a critical support level of $3.04, a threshold that has historically acted as both a technical and psychological benchmark. Recent price action shows the asset consolidating near this level, with buyers intervening to prevent further declines. The $3.04 support has held firm for several days despite brief dips, signaling a potential pause in the bearish momentum that previously pushed XRP below $3.60 earlier in the month [1]. Analysts note that the current consolidation suggests a temporary stabilization rather than a breakdown, with the $3.04 level serving as a key indicator of the asset’s near-term direction [1].

If bulls manage to push XRP beyond $3.40, the next major resistance level, the price could see renewed upward momentum. This level marks the previous peak of the recent rally and has transitioned into a dynamic support zone after multiple price tests. A breakout above $3.40 would likely open the door to another attempt at reclaiming the $3.60 high, which could serve as a short-term target. However, sustained buying pressure is required to confirm a shift in the price trajectory [1]. On-chain data reinforces this bullish outlook, with large holders (whales) accumulating over 130 million XRP in the past 24 hours. This activity, observed by crypto analyst Ali (@ali_charts), indicates confidence in XRP’s potential despite market volatility [1].

While the immediate focus is on defending $3.40, analysts have outlined potential scenarios depending on the asset’s performance. A successful breakout could position XRP to test $3.65, with further gains contingent on broader market conditions and technical validation. For instance, CasiTrades, a crypto analyst, highlights that a move beyond $3.65 might trigger a more aggressive rally toward $4.11 or even $4.65, based on Fibonacci extensions and RSI momentum [3]. Conversely, a breakdown below $3.40 could lead to a retracement toward $3.20, with additional downside risks to $2.96 or $2.76 if selling pressure intensifies [3].

Market observers have also emphasized the importance of XRP staying above its 20-day simple moving average, a key indicator of trend strength. Binance analysts suggest that maintaining this level could facilitate a move toward $4–$4.50, though this would require broader optimism in the crypto sector [8]. Meanwhile, CaptainAltcoin cautions that prolonged selling pressure might drive the price toward liquidity clusters between $2.66 and $2.86, with $2.64—a former multi-week resistance level—offering potential support [2].

The current consolidation phase aligns with CasiTrades’ assessment that XRP is in an accumulation period rather than an exhaustion phase. This is supported by whale activity, which has stabilized the asset during dips [3]. However, institutional participation remains a double-edged sword, as continued selling could undermine bullish efforts. The RSI’s positioning also indicates room for upward movement if $3.40 is successfully defended [3].

Investors are advised to monitor XRP’s interaction with $3.40 and $3.65 as critical decision points. A sustained breakout would validate the bulls’ case for further gains, while a breakdown could signal a deeper correction. The broader crypto market’s performance and macroeconomic factors will also play a role in shaping XRP’s trajectory, particularly if regulatory developments or macroeconomic shifts introduce volatility [3].

Sources:

[1] [Ripple Price Holds Strong Above Key Support] https://captainaltcoin.com/ripple-price-holds-strong-above-key-support-heres-the-next-short-term-target/

[2] [XRP's Bull Run Might Have Ended at $3.65] https://cointelegraph.com/news/xrp-s-bull-run-might-have-ended-at-dollar3-65-here-s-what-must-happen-to-save-it

[3] [XRP Price Showing Quiet Strength] https://cryptorank.io/news/feed/265ff-xrp-showing-quiet-strength

[8] [Crypto Price Prediction for July 25] https://www.binance.com/en/square/post/27443063258281