XRP News Today: XRP Surges 40% Breaking $3 Resistance Level

XRP, the native token of the Ripple network, has recently surged past its previous all-time high of $3.40, reaching $3.65. This significant move has been highly anticipated by the cryptocurrency community. Over the past week, XRP has experienced a surge of over 40%, breaking out of a large symmetrical triangle pattern that had been forming since the start of the year. The breakout began around July 9, with strong momentum continuing into the following days. XRP smashed through the $3 resistance level, a price point that had acted as both support and resistance multiple times this year.

According to analyst Lark Davis, the $3 level was crucial. In January and March, it had acted as a major barrier, first as support, then resistance. Now that XRP has broken above it, the big question is whether it can maintain this level. If it does, analysts believe XRP could push toward $4.10 or even $4.50 based on technical projections. This target is based on the height of the triangle pattern that XRP just broke out of.

In the short term, the next move for XRP will likely depend on how it behaves around the $3 mark. If the price retests $3 and holds, it could be a strong signal for another leg up. If it drops below that level again, XRP might trade sideways for a bit between $2.60 and $3. A Fibonacci extension points to a possible price of $4.68. And if Bitcoin continues its own bullish trend toward $150K, XRP might even stretch to $5 or more this year. Options markets also show that traders are betting on more upside. There’s nearly a 20% chance XRP hits $4.50 by September, according to data from recent call options.

Could we see $7 XRP by the end of the year if Bitcoin hits $200K? Davis says it’s possible, but it would require a huge push. A $10 XRP would mean a $590 billion market cap—which, while not impossible, is definitely a high bar. The surge in XRP’s price is attributed to a combination of factors, including renewed institutional interest, rising retail participation, and overall bullish sentiment across the broader cryptocurrency market. Bitcoin and Ethereum have also seen substantial gains, with Bitcoin climbing past $120,000 and Ethereum exceeding $3,600. This wave of liquidity has extended to XRP, contributing to its sharp upward trajectory.

The number of XRP whales, or large holders, has reached a new record high, with the count of wallets holding at least 1 million XRP climbing alongside a 41% increase in the token’s value over the past week. XRP whales currently hold a total of 47.32 billion XRP tokens, indicating strong confidence in the token’s future prospects. Analysts and traders have been closely monitoring XRP’s price movements, with some suggesting that the token could reach $5 before the end of July. According to the analyst's forecast, the previous long-term forecasts for the end of 2025 are also being revised. While $10 was once considered an ambitious projection, it is now viewed by some as a conservative estimate. Updated scenarios place $15 as a plausible target and $20 as an aggressive but not implausible upper bound. These revised outlooks are supported by several fundamental factors, including the potential approval of an XRP exchange-traded fund (ETF), the resolution of legal uncertainties surrounding Ripple, and increasing interest from institutions looking to adopt the underlying technology.

The ongoing Ripple vs. SEC lawsuit, which has long shaped XRP’s regulatory outlook, is approaching its conclusion, adding further intrigue to XRP’s price potential. The SEC has delayed decisions on multiple XRP ETF proposals, with a final verdict expected by October. Despite the delays, SEC Commissioner Caroline Crenshaw clarified that they are procedural and not indicative of rejection. The broader cryptocurrency market has also seen significant inflows of capital, with the total market capitalization now approaching $3.87 trillion, just shy of its previous all-time high. XRP’s price movement appears to be driven by a combination of renewed institutional interest, rising retail participation, and overall bullish sentiment across the market. The token’s proximity to its all-time high of $3.84, now just 5% away, is attracting increased attention from both short-term traders and long-term investors.

Despite the rapid price increase, market observers caution that short-term corrections remain likely, especially if the asset reaches psychological resistance levels such as its previous all-time high. However, for those with a long-term perspective, any pullbacks could present renewed accumulation opportunities, particularly if market-wide momentum continues through 2025.