After multiple bounces from the demand zone between $2.05 and $2.10, the price of $XRP
Today, a bullish breakout near $2.29 challenges a key descending resistance line that has capped the highs since March. A successful breakout above $2.30 could change the overall structure, but bears are still firmly defending this area.
What is happening with XRP's price?
XRP price dynamics
The daily chart shows that $XRP has been confined within a large descending triangle since the April peak at $3.10. Despite this overarching structure, the price has formed higher lows steadily since early June, increasing pressure below the critical resistance area between $2.30 and $2.35.
'XRP price dynamics
On the four-hour chart, the price of Ripple has surpassed a short-term descending wedge pattern, rising from $2.12 to a local peak at $2.2965. This movement was supported by a bullish engulfing candle and a sharp increase in trading volume, pushing Ripple directly to a horizontal resistance level.
The super trend has flipped on the four-hour chart to a bullish trend at $2.17, and the exponential moving average (20/50/100/200) is now positioned below the price, with the 20-period exponential moving average rising to $2.22. This alignment indicates a potential shift in Ripple's short-term direction towards bulls.
Why is the price of Ripple rising today?
The main reason for the rise in Ripple's price today is the ongoing bullish momentum from the demand zone at $2.10, along with the strength of the finance market and interest in derivatives.
XRP price dynamics
The MACD indicator on the 30-minute chart shows a clear bullish crossover, while the relative strength index remains stable above level 66, indicating continued buying pressure, but is approaching overbought conditions in the short term. However, there is no divergence yet, suggesting that the trend's strength continues.
XRP price dynamics
Bollinger Bands indicators have seen a sharp expansion, with the price now testing the upper range near $2.29. This expansion in volatility indicates the possibility of a breakout, although traders should watch for a pullback if the price struggles at this level.
XRP Derivative Analysis
On-chain derivatives data also reflects an increase in bullish trends. Open interest rose by 9.74% to $4.71 billion, while options volume surged by 699.74%, confirming interest in speculation. The buy/sell ratios on Binance and OKEx favor an upward trend, with Binance accounts ratio at 2.03.
The momentum of Ripple's price is increasing as indicators converge towards a breakout.
XRP price dynamics
As Ripple's price volatility increases, several indicators suggest a potential breakout. The Directional Movement Index (DMI) shows a rise in the average ADX above 25, with the +DI indicator leading, confirming the strength of the trend. Simultaneously, Parabolic SAR points are now trailing below the price, indicating bullish control over the daily trend.
XRP price dynamics
The volume-weighted average price (VWAP) on the 30-minute chart acts as short-term support at $2.26, while $XRP continues to close candles above it - an early signal of momentum buying activity. Funding rates remain slightly positive (0.0104%), indicating that the rise has not yet relied excessively on leverage.
However, the price is still close to a key rejection area. The $2.30-$2.35 range is characterized by previous liquidity withdrawals and failed breakouts during the second quarter. A close above this area with high trading volume will be necessary to confirm a genuine breakout.
XRP Price Forecast: Short-Term Outlook (24 Hours)
Over the next 24 hours, the forecast for #XRP price update depends on whether the bulls can decisively break above the $2.30-$2.35 ceiling. If they succeed, it will quickly open the way towards $2.50, with intermediate resistance at $2.42.
However, failing to break this key level may lead to another decline towards the ascending support line near $2.22, and possibly a return to the exponential moving average (EMA) area between $2.15 and $2.17. The convergence of the super trend support with horizontal buy orders at $2.17 provides a strong basis for any retracement scenario.
Traders should closely monitor the relative strength index (RSI) and the moving average convergence divergence (MACD) on the 30-minute timeframe for signs of slowing down, especially as the price approaches the historical rejection zone. A rejection from $2.30 without follow-through could lead to short-term profit-taking.
Ripple Price Forecast Table: July 4, 2025
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