The cryptocurrency market, especially $XRP
, signs of repeating one of its largest historical moves, as July approaches. Over the past few days, the price of $XRP has been trading steadily around the $2.20 level, which may represent the optimal framework for an XRP price breakout in July.
Analysts noted that the relative strength index (RSI) for XRP is currently bouncing off levels where it found support in previous highs. Additionally, the price of $XRP has been forming higher lows, supporting the increasing bullish momentum beneath the surface.
History shows the ability of #XRP to rise rapidly
What makes this situation more interesting is that XRP has a history of sudden and strong spikes after periods of quiet consolidation. In a previous market cycle, the price of XRP rose over 746% in one month after a similar setup.
Other monthly gains included 180%, 125%, and 374%. If XRP follows a similar path this time, it could see a price increase of 500% or more as early as July.
Will this be the last time XRP approaches $2?
There is also a warning that this may be the last opportunity for investors to buy XRP below $2. This asset has gained momentum as a payment option in the real world and is increasingly being adopted by companies outside the cryptocurrency space.
The long-term fundamentals of XRP remain strong, and its deflationary nature, along with increasing real-world use cases, makes it an asset that many believe will continue to rise over time.
July may be bullish on the way
If the current unification pattern continues and market sentiment remains positive, XRP may witness a sharp rise in July. A close above the $2.21 level may be seen as a key signal for the next move.
While nothing is guaranteed in the cryptocurrency market, the combination of technical patterns, historical performance, and improving fundamentals suggests that XRP may be poised for a breakout not seen since its last massive rise.