XRP News Today: XRP Retests Key Zone Awaiting Breakout For 35% Gain

XRP, the cryptocurrency associated with Ripple, has been the subject of intense discussion among traders and analysts, with many speculating about its potential for a resurgence. A chart shared by a prominent analyst on Crypto Twitter has sparked significant interest, outlining a potential breakout and retest zone that could signal XRP’s next major move. The chart, posted on July 6, highlights a key 2.15–2.35 zone that has acted as both support and resistance for several weeks. Currently, XRP is trading around $2.26, retesting this crucial area after being rejected at a descending trendline that has been pressuring the price since May.

If XRP can maintain its position above $2.15 and push past $2.35 with volume, it could confirm a breakout. Many traders view this setup—a breakout, retest, and continuation—as a bullish pattern, especially on a 12-hour timeframe. The setup suggests a possible recovery toward the $3.10–$3.20 range, representing a 35% move from current levels. A recent green candle showing a 2.29% gain after the retest is a promising sign, but this move still requires confirmation with a strong close above the resistance zone.

The focus is now on whether XRP can reclaim the $2.35 level. If it fails to do so, there is a bearish scenario where XRP could fall back toward $2.00 or even as low as $1.95, which acted as a base in May. The recent rejection from the trendline indicates that sellers are still present, and bulls need to exert more effort. Alternatively, XRP could continue to consolidate within the $2.15–$2.35 range, maintaining the broader bullish structure but potentially frustrating traders seeking quick gains.

The next few candles on the 12-hour chart will be crucial. If XRP can close above $2.35 with strength, it would flip resistance into support and open the door to higher levels. Conversely, if it fades back below $2.15, the breakout might have been a false signal. For now, the chart’s structure favors the bulls, but only if they can follow through with their momentum.

In addition to the technical analysis, the solid technical foundation of XRP has been a key factor in its recent performance. The technical indicators suggest that XRP's engine is robust, and staying above the $2.35 mark could trigger a move toward $3.40. This is supported by on-chain data showing that traders are leaning toward long positions, indicating a bullish sentiment in the market. Many long-term holders are also optimistic about XRP's future, contributing to the overall positive outlook.

The community updates and the project's progress have also fueled interest in XRP. The project is nearing the completion of Stage 3, with hints that the next price increase is imminent. This has led to a surge in interest from buyers eager to capitalize on the potential gains. The potential for a significant return on investment has also been a driving factor, with analysts forecasting that if the coin continues its upward trend, it could offer a substantial return, making it an attractive option for investors looking to diversify their portfolios.

In summary, the recent upward trend in XRP's price, coupled with its solid technical foundation and positive community updates, has led to a growing interest in the cryptocurrency. With many analysts predicting a potential comeback, XRP is poised to be a key player in the cryptocurrency market in the coming years. The next few days will be critical in determining whether XRP can sustain its momentum and achieve the predicted gains.