XRP News Today: XRP Nears $3.03 Breakout Amid Bullish Technical Signals

XRP is poised to close its first monthly candle above $3.03 with less than 19 hours left in July, a level that has historically acted as a strong resistance. Currently trading above $3.15, the asset remains above both the 21 EMA and 33 SMA, indicating sustained bullish momentum. The potential confirmation of a close above this key level at 00:00 UTC would represent a technical milestone in XRP’s long-term price history [1].

The significance of a close above $3.03 is underscored by its historical role as a barrier during previous cycles, including in 2017 and 2021. According to EGRAG CRYPTO, this level aligns with past cycle peaks, and a confirmed close above it could signal renewed buying interest and a shift in market sentiment. Analysts note that this could be a catalyst for a stronger bull phase, potentially propelling XRP toward $3.50 or beyond [2].

XRP’s market cap has surged to $186.61 billion, with a 3.3% gain in the past 24 hours. Trading volume stands at $6.18 billion, and the volume-to-market cap ratio is at 3.31%, reflecting active trading conditions. These metrics support the idea that the market remains engaged, particularly as the token stabilizes above its recent support levels [1].

Technical indicators, including the RSI, show signs of upward momentum, with traders watching closely for a confirmation of a breakout. A successful close above $3.03 could attract institutional interest and trigger a broader rally in the altcoin market. This event marks a potentially pivotal moment in XRP’s journey, with implications beyond its immediate price action [3].

The current price stability also reflects XRP’s ability to remain above its base channel, which has been a point of focus for technical traders. HovWaves notes that a breakout beyond the 1.382 level could eliminate the need for a sideways correction, further supporting bullish expectations. Traders are closely monitoring for any signs of a sustained move beyond the current levels [1].

With time running out, the market is in a holding pattern as participants await the outcome of this critical close. A positive result would not only be a psychological win for XRP holders but also a sign of broader confidence in the asset’s potential [2].

Source:

[1] XRP Holds Key Support: Will Bulls Trigger a $3.50 Rally? (https://www.xt.com/en/blog/post/xrp-holds-key-support-will-bulls-trigger-a-3-50-rally)

[2] 'Real fun starts' if XRP price ends July above $3, new ... (https://www.instagram.com/p/DMxV78WRLoz/)

[3] Altcoin News: Ethereum, Cardano, XRP and More (https://cryptodnes.bg/en/news/altcoins)