Current Performance
Current price 2.77 $ with a slight decline (~–0.36%) compared to yesterday's close, and today ranges between 2.68–2.91 $.
This movement indicates price divergence with internal rise, followed by selling pressure near the highs.
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🔍 Technical Analysis
Support: Currently forming at 2.35–2.36 $ based on previous interaction and recent retracement level.
Resistance: 2.50 $ was recently broken, allowing an attempt to push towards 2.46–2.60 $, and last week's rise showed strong moderation in these areas.
Behavior Patterns: Inverted triangle formations (falling wedge) appeared with resistance level at 2.66 $, with a possibility of breaking towards targets at 2.92–3.00 $ if this breakout is confirmed.
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🚨 Quantitative Analysis
Volume: The session on July 9–10 saw high trading activity, with trading volume up 74% compared to the average, supporting upward momentum.
Indicators:
RSI near 60, indicating moderate momentum with room for upward movement.
MACD has turned positive on the lower timeframe, an indicator of short-term standard impact.
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🏛️ Environmental Factors and Institutional Support
Institutional Demand: Resistance at 2.50 $ was broken amid news of strong institutional interest and increasing HODLing balance.
Regulatory Wait: The first XRP ETF issuance on July 18, and the announcement of a potential Spot ETF issuance during the last week of July, adds potential buying power in the market.
Whales: Huge wallets accumulating XRP despite the decline, reinforcing the long-term positive outlook.
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🎯 Investment Levels and Recommendations
Scenario Price Target Recommendation
Temporary Correction 2.60–2.50 $ Considered a buying area on decline
Bullish Breakout 2.92–3.00 $ First technical target for the merger structure
Optimistic Target 3.20–3.40 $ Higher rebound, associated with moving within the next wave
Risk Management:
Bearish Scenario: Losing support at 2.35 $ could lead to a decline towards 2.25 $.
Appropriate stop loss: 2.45–2.50 $, depending on the trading timeframe.
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🧠 Summary
XRP shows temporary upward momentum driven by strong trading volume and support from institutions and positive data.
The closest technical scenario is testing prices at 2.92–3.00 $, with the market ready to push higher with nearby regulatory support.
But caution is advised against any corrections if the price breaks without sufficient trading volume or loses support at 2.35 $.#BinanceSquare #Write2Earn #xrp #XRPRealityCheck #AltcoinSeason