XRP has gained more than 5% in the last 24 hours and is currently trading around $2.42. This upward move has brought the token back to a critical resistance zone between $2.31 and $2.36, an area where the price has struggled multiple times in recent weeks. Experts are now closely watching to see if XRP can finally close above this level.
If XRP manages a daily candle close above $2.36, it could trigger a fresh rally towards the next resistance levels at $2.44–$2.45. Beyond that, the next key target would be around $2.61–$2.62, which marks a local high reached in mid-May. A confirmed breakout above $2.36, especially if the price holds this level as new support, would be a strong bullish signal.
However, on the shorter time frame, XRP appears to be forming a rising wedge pattern, which is typically seen as a bearish sign. This pattern will only be confirmed if the price drops below $2.27. If that happens, XRP could pull back to short-term support zones at $2.21 and $2.17.
In short, if XRP breaks above $2.36, bulls could take control and push towards $2.60. But if the price slips below $2.27, a temporary pullback might follow.
An expert said that while XRP’s price is rising, traders should be careful because global trading volumes are still low. They warned this move could be part of a pump-and-dump setup. Real, strong price moves usually happen when trading volumes cross $10 billion, like when XRP previously jumped from $0.58 to over $2.
Santiment reported that XRP’s price has hit a 7-week high, rising above $2.39 for the first time since May 23rd. Right now, there are 2,742 wallets with over 1 million XRP, just one less than yesterday’s record of 2,743 wallets. These big holders now control 47.32 billion XRP, showing they still have strong confidence in XRP’s future.
XRP’s price is up today due to several factors, including positive macroeconomic conditions, a general uptrend in the broader crypto market, and strong whale accumulation. Institutional interest, like Grayscale’s addition of XRP to its Digital Large Cap Fund, and anticipation of regulatory clarity (e.g., pending spot XRP ETF applications and Ripple’s banking charter push), are also contributing.
XRP’s all-time high (ATH) is $3.40 (January 2018). While XRP has seen recent gains and positive sentiment in July, analysts indicate potential targets like $2.60-$3.00, and some even suggest a run towards $3.40. Whether it definitively hits its ATH in July depends on sustained bullish momentum and key resistance breaks.
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