XRP News Today: XRP Eyes Major Breakout as Analysts Flag Bullish Technical Signals

XRP’s market position continues to draw significant attention as key analysts highlight its potential for a major upward move. According to prominent crypto analyst EGRAG CRYPTO, XRP’s dominance on the monthly timeframe remains in what he describes as “the most bullish formation,” a technical pattern known as a bullish pennant [1]. This structure, historically associated with a 60–65% probability of a strong upward breakout, suggests that XRP could be on the verge of a major move [1].

The analyst emphasized the importance of XRP maintaining its dominance above the 4.5% threshold to keep the bullish pennant intact [1]. The chart shows XRP has tested this level multiple times in the past, with each retest preceding significant upward momentum. Currently, the token is navigating a crucial phase, with the 4.5%–5.75% range representing a historically significant resistance zone that could soon become support [1].

EGRAG also outlined potential price targets if the breakout confirms. He identified the “VOID,” a price range from 21% to 27% dominance, as an area with little historical resistance. This could allow XRP to enter a price discovery phase, potentially reaching $13.34 and $17.15, pushing the token into double-digit territory [1]. Further Fibonacci extension levels at 11.44%, 15.22%, 21.54%, and 31.54% correspond to price targets of $7.27, $9.67, $13.68, and $20.04, respectively [1].

The analysis is based on a monthly timeframe, which EGRAG notes is typically less volatile and more stable than shorter-term data. Supporting indicators such as moving averages and long-term trendlines reinforce the idea of a building bullish momentum [1].

In another technical breakdown, analyst CryptoInsightUK highlighted that XRP has diverged from traditional market dynamics by leading rather than following Bitcoin [2]. This shift in sentiment, combined with a breakout from a prolonged trading range and a 4-hour high not seen since May 24, mirrors patterns that previously led to a 464% rally [2]. The analyst also noted a higher-low formation, a technical sign of strength, despite recent price corrections [2].

The XRP/BTC pair has also shown signs of momentum reversal, currently trading above a critical level known as the “Gandalf line.” Historically, this level has acted as a pivotal turning point, and breaking above it has often preceded strong upward moves [2]. Additionally, the weekly RSI on XRP’s price chart is approaching a key milestone—if the current weekly candle closes above the RSI’s simple moving average, it would mark the first such event since the asset’s breakout from its lows, potentially triggering a significant price move [2].

CryptoInsightUK estimated that such a move could push XRP toward $13.05, with a more conservative target of $12 for the current upward push. The analyst also pointed to XRP’s potential dominance rising toward 14%, with a more aggressive Elliott Wave count suggesting a possible increase to 20% [2]. This aligns with a classical accumulation structure known as the Wyckoff model, currently in the “sign of strength” phase [2].

Despite the bullish setup, the analyst stressed the importance of risk management. Given the potential for a 20x move from XRP’s 50-cent level, investors were advised to consider partial exits between $8 and $13 to preserve capital and mitigate downside risk [2]. This approach reflects a balance between capturing growth opportunities and managing the inherent volatility of the cryptocurrency market [2].

The broader market context also appears to support XRP’s potential. Bitcoin’s movement above the $111,000 liquidity zone could provide confluence for XRP’s current price action, reinforcing the legitimacy of the breakout [2]. The interplay between XRP and Bitcoin suggests a potential for synchronized momentum, with both assets possibly entering a new bullish phase [2].

At press time, XRP was trading at $2.44, having recently risen back above key Fibonacci levels on the 1-day chart [2]. With the upcoming August 15 deadline in the Ripple vs. SEC case and ongoing regulatory developments, the market remains closely watching both legal and technical catalysts that could influence XRP’s trajectory [2].

[1] https://timestabloid.com/expert-says-xrp-dominance-still-in-most-bullish-formation-heres-what-to-expect/

[2] https://www.newsbtc.com/xrp-news/xrp-signal-last-time-preceded-464-rally/