After months of limited price movement, $XRP may be preparing.
for a significant rise.
Analysts on Dis,,cover Crypto on You,,Tube say that technical indicators and whale activity suggest a breakout $XRP between July and September. While XRP's price has remained constrained within its range for several months, this trend of weak performance may be nearing its end.
$XRP approaches key resistance levels.
Over the past three months, XRP has traded within a narrow range between $2.00 and $2.40. According to Nicky Valdez (Dee,,zy) from Disc,,over Crypto, this period of price consolidation has formed an ascending triangle, a technical pattern that often precedes a decisive move in either direction.
De,,ezy believes that the breakout is likely to occur when the asset reaches 75% to 95% of the triangle's length. This opens the door for a potential rise between early July and mid-September.
Current resistance remains at $2.40. If #XRP can close above this level and hold, analysts expect a rise towards $2.64. If momentum continues, it may trend further towards $3.40, which is XRP's previous all-time high. XRP is trading at $2.19, up 0.3% from the previous day, increasing its gains to just 1.6% over the past week.
Other technical indicators support these expectations. XRP is currently hovering around its simple moving averages for 100 days and 200 days, both converging near $2.22. A confirmed close above these levels may indicate the beginning of a broader upward trend.
Whale behavior indicates accumulation.
XRP series data shows a significant decline in XRP supply on multiple centralized exchanges over the past 24 hours. Joshua Geek interprets this as a sign that large holders of cryptocurrencies may be moving their tokens to cold storage.
While some movements may reflect internal restructuring, the volume and timing of trading across different platforms indicate active accumulation. Historical data suggests that such outflows from exchanges often precede price increases, bolstering bullish expectations.
XRP is compared to Bitcoin's rise in 2024.
The current market structure of XRP is compared to Bitcoin's behavior before its surge in late 2024. At that time, Bitcoin's price ranged between $70,000 and $75,000 for weeks, while its MACD indicator showed multiple bearish signals. Nevertheless, Bitcoin's price remained within its range before breaking the $100,000 barrier.
Joshua notes that XRP shows similar MACD divergence patterns, maintaining above key support areas. This indicates that XRP may experience stability before its breakout, following the path that #Bitcoin took less than a year ago.
June is a historical turning point for altcoins.
Analysts also pointed out June as an important month historically for altcoin performance. Over the past six years, June has either marked a low or a significant trend reversal in the broader altcoin market. This year appears to be following the same pattern, with altcoins stabilizing and some starting to show signs of recovery.
The total market cap of altcoins (Tot,al3) shows that June was a local low in 2019, 2020, 2022, 2023, and 2024. If history repeats, XRP could benefit from a broad altcoin market recovery as the second half of the year approaches.
Bitcoin's dominance remains a key factor.
Despite the growing optimism surrounding XRP, analysts warn that Bitcoin's dominance remains high, currently around 65.7%.
This level of dominance reflects Bitcoin's acquisition of the majority of market capital, limiting the potential for altcoins to rise. A decrease in Bitcoin's dominance is likely necessary for XRP and other altcoins to achieve significant gains.
Wider market context and institutional impact.
Analysts also discussed macroeconomic factors and institutional behavior. Bitcoin ETF flows reached record levels, with BlackRock's iShares iB,IT achieving $436 million in a single day, part of a total inflow of $588 million.
This reflects Wall Street's continued appetite for digital assets, which may eventually spill over into altcoins like XRP.
More than 245 companies currently hold Bitcoin on their balance sheets, with a combined asset value of $88 billion. Analysts point out that as institutional confidence in cryptocurrencies grows, altcoins with strong use cases and legal clarity, like XRP, may attract renewed interest.