XRP News Today: XRP Surges 10% Toward $2.30, Key Support at $2.25

XRP, the cryptocurrency associated with Ripple, has recently shown significant upward momentum, aligning with the early-stage breakout structure identified by CasiTrades, a prominent crypto analyst. The price pushed toward the $2.30 region, reaching a local high near $2.2980 before pulling back slightly. The critical development now is not just the initial rally, but what comes next.

In her recent chart analysis, CasiTrades identified two key scenarios for XRP. The price action has so far followed the first scenario, with a sharp move toward $2.30, followed by a likely retracement to the $2.25 zone. That retracement is being watched carefully, as it could determine whether the breakout holds or stalls. CasiTrades predicted XRP’s recent climb above $2.25. The importance of this level lies in its technical relevance. It aligns with the 0.382 Fibonacci retracement level of the broader consolidation range, as well as the former resistance area from which XRP recently surged.

According to CasiTrades, a clean retest and hold of this level would represent the entire consolidation apex, providing the strongest possible confirmation that XRP is establishing new support. $2.25 was a crucial resistance for XRP, and if it can hold as a support, the breakout structure would be considered intact, and the move could extend significantly. CasiTrades noted that this is a critical point in the breakout, emphasizing that true strength is shown when resistance becomes support.

Momentum indicators also appear to support the current breakout narrative. On lower timeframes, the Relative Strength Index (RSI) has not shown bearish divergence, suggesting that the recent price surge was not overextended or lacking conviction. Instead, the strength appears genuine, fueled by volume and structural support. The RSI spiked to the high 60s but has already begun resetting. If XRP revisits $2.25 and the RSI pulls back accordingly without dipping into bearish territory, this would create favorable conditions for a renewed move upward.

If the $2.25 level is validated as new support, CasiTrades projects the next major upside levels at $2.69 and $3.04. The chart also marks $2.3048 as the 0.618 retracement from a prior swing, indicating that a break above this area could trigger further acceleration. While XRP remains below $2.30 at the time of writing, the structure of the move suggests that a bigger breakout is coming. The coming sessions will be critical as the market watches whether $2.25 can serve as the foundation for the next climb.

For XRP to ignite the next wave of growth, it needs to retest the macro level at the 0.382 Fibonacci extension. This retest is seen as a crucial step before a bullish continuation can be expected. The analyst's prediction underscores the importance of this level as a potential pivot point for the cryptocurrency's future performance. DonAlt, a well-known pseudonymous cryptocurrency trader, has also weighed in on XRP's potential. He suggested that the token could potentially repeat its 2017 rally, which saw significant gains. This comparison to the 2017 bull run highlights the optimism surrounding XRP's future prospects, as analysts and traders alike anticipate a similar surge in value.

Market sentiment towards XRP has been gradually shifting, with the cryptocurrency holding key support levels. Analysts suggest that this positive sentiment, combined with the holding of these support levels, may set the stage for the next impulse wave. The potential for a significant price increase is further bolstered by the growing optimism around a potential exchange-traded fund (ETF) and ecosystem upgrades. CasiTrades has also noted that the XRP price needs to hold above $2.16 to maintain its bullish trajectory. She highlighted that after reaching the $2.30 mark, the cryptocurrency could potentially target $2.40. This price level is seen as a critical threshold for XRP to sustain its upward momentum.

However, there are also cautionary notes. One analyst pointed out that if the $1.90 level is breached, XRP could potentially drop to a new low of around $0.287, marking a decline of over 87% from its current levels. This highlights the volatility and risk associated with cryptocurrency investments, even for those with strong bullish sentiments. Clyde, another popular analyst, expects XRP to make a new all-time-high in July or August. He mentioned a first major target of $4.50, indicating a strong belief in the cryptocurrency's potential for significant gains in the near future. This prediction aligns with the broader optimism surrounding XRP's prospects, as analysts and traders anticipate a bullish continuation.

As XRP enters July with renewed strength, fueled by legal clarity and ecosystem upgrades, the stage appears to be set for a potential breakout. The cryptocurrency's performance in the coming months will be closely watched by analysts and investors alike, as they assess the likelihood of a sustained bullish trend.