XRP News Today: XRP Surges 20% in July, Targets $4.40 on Bullish Pattern

Ripple’s XRP is experiencing a strong bullish trend, with its latest breakout confirming a classic double bottom pattern that indicates further upside potential. Crypto analyst Steph Is Crypto highlighted this development in a recent chart, projecting a short-term price target of $4.40. The technical formation and rising market confidence suggest that the XRP rally is far from over.

The double bottom pattern, a widely respected bullish reversal pattern, formed between mid-March and late June, with troughs around $1.85 and a neckline near $2.90. The pattern was officially confirmed in early July when XRP broke above the neckline on significant volume, a textbook breakout move. According to the analyst's forecast, the measured move from this pattern projects a target of approximately $4.40. Since clearing the neckline, XRP has held above the former resistance zone, now acting as support, consolidating in preparation for the next leg up. This consolidation phase further strengthens the structure, indicating that bulls are in control.

XRP is currently trading around $3.57, having posted a strong rally over recent weeks. At its intraday high, the token touched $3.64, maintaining gains of over 20% on the month. XRP is now in a fresh price discovery phase, having surpassed its previous all-time highs set in early 2018. The broader crypto market is also reinforcing XRP’s bullish momentum. Over $4.39 billion flowed into digital asset funds last week, with XRP attracting $36 million in institutional interest. Technical indicators align with this bullish outlook. A golden cross has formed between the 50-day and 100-day EMAs, while the daily MACD remains in positive territory. These signals suggest continued upside as long as key support levels hold.

While $4.40 is the immediate target, analysts are also watching macro trends that point to even higher price objectives. Historical cycle analysis, particularly from 2017 and 2021, suggests that XRP could ultimately reach levels between $7.70 and $33 during the current bull cycle. Averaging these projections yields a potential mid-cycle target around $20. Market observers have echoed similar expectations, citing XRP’s dominance growth and on-chain volume as evidence of strong network activity and investor confidence.

Despite the optimism, traders are advised to monitor whale activity. On-chain data recently showed over 43,000 large transactions to exchanges, often a signal of possible distribution. Moreover, macroeconomic uncertainties or regulatory shifts could introduce short-term volatility. XRP is currently in a technically and fundamentally strong position. The breakout above $2.90 confirms a double bottom structure, with analyst Steph Is Crypto setting a short-term target of $4.40. Backed by increasing institutional flows, bullish indicators, and historical cycle patterns, XRP is poised for further gains, provided key support zones remain intact. A break beyond $4.40 could mark the beginning of XRP’s next major rally, with higher cycle targets firmly in sight.