XRP News Today: XRP Tests Major Resistance Zone Amid 30% July Gain

Veteran trader DonAlt has drawn attention to XRP with a concise yet impactful update, using just two words: "Decision time." This update comes as XRP is once again testing a major resistance zone on its monthly chart. DonAlt, known for his accurate predictions, previously identified XRP’s price potential in late 2024, just before it embarked on a 500% rally to its all-time high. His latest chart analysis suggests that XRP may be entering a similar pattern to the one that preceded its historic breakout in 2017.

The chart posted by DonAlt highlights the 2017 order block, a zone that acted as the final consolidation before XRP's significant price surge. This pattern, characterized by a multi-month climb followed by tight compression under resistance, is reminiscent of the behavior XRP exhibited before its previous major rally. If this pattern repeats, it could signal the beginning of the next significant price movement for XRP.

DonAlt's analysis does not include specific price targets or predictions, but the context provides valuable insights. Last year, an analyst projected a potential price level of $4.20 per XRP if the breakout from an eight-year-long triangle pattern materialized, which it did. This level is now back in play if XRP clears the current resistance and volume confirms the breakout. At the time of the update, XRP was trading at around $2.91, marking a more than 30% increase for the month of July. The market's reaction to this resistance zone will determine whether this move develops into a breakout or results in another rejection. DonAlt's marking of this moment suggests that a significant price movement may be on the horizon.

The current price of XRP is at a critical juncture, and the market's response to this resistance zone will be crucial. DonAlt's analysis, coupled with the historical pattern, indicates that XRP could be on the verge of another major rally. However, it is important to note that the actual outcome will depend on market dynamics and volume confirmation. Investors and traders are advised to closely monitor the situation as it unfolds.