XRP crossing the $3 threshold is a significant moment for both holders and market observers, as the token briefly touched $3.02 before facing a rapid pullback.

While many believe this pullback is due to market resistance or typical profit-taking, macro analyst Versan of Black Swan Capitalist offers a deeper and more controversial perspective.

According to him, XRP's ongoing struggle to maintain levels above $3 is not the result of weak fundamentals but rather a product of deliberate suppression stemming from the asset's breakthrough potential.

XRP's Brief Flirtation with $3

On July 14, XRP surpassed the $3 mark for the first time in years, reaching a daily high of $3.02. However, this upward momentum did not last long. Within 24 hours, the price sharply dropped nearly 8% to $2.78 before recovering to around $2.90.

This sharp correction coincides with increasing expectations for the upcoming ProShares XRP Futures ETF launch, anticipated on July 18. Analysts believe that investment institutions may have liquidated positions near $3 ahead of market volatility before the ETF launch, taking profits as retail investor excitement peaked.

Despite the sell-off, on-chain data indicates that accumulation activity has quickly resumed. Wallet activity remains high, and XRP futures open interest is stable, suggesting that this pullback may only be a temporary reset rather than a breakdown of the bullish trend.

Deliberate Suppression or Market Mechanism?

Versan's argument centers around the idea that the true value of XRP is intentionally hidden. He claims that XRP is a real threat to traditional financial institutions and centralized intermediaries. According to him, "It ends fraud. Exposes the system." From this perspective, XRP is not just a digital asset; it is a tool capable of dismantling the opaque and inefficient financial infrastructure.

This assertion is reinforced by XRP's unique position in the global financial sector. Unlike most other cryptocurrencies, XRP is designed for real-time payments and cross-border liquidity. It has been tested or adopted by several financial institutions around the world.

However, the ongoing scrutiny from regulators, particularly the SEC, has slowed the process of full integration into the mainstream. For Versan, these barriers are not merely procedural; they are strategic moves aimed at delaying what he describes as the inevitable collapse of the outdated financial order.

The Role of Bitcoin's 4-Year Cycle

Another point raised by Versan is the ongoing correlation of XRP with Bitcoin's four-year halving cycle. Although XRP is built on a utility model and adopted by businesses, its price movements still mimic the boom and bust cycles of Bitcoin.

Versan believes this is due to a broader market structure designed to keep XRP tightly tethered to speculative assets, such as Bitcoin, rather than allowing it to fluctuate independently based on its underlying value. In his view, only when XRP separates from Bitcoin and the "shadow market" can it freely reflect its true value.

The Path Ahead: ETF Launch, Accumulation, and Price Prospects

The upcoming launch of the ProShares XRP Futures ETF is expected to serve as a critical catalyst. Although the recent pullback shows caution before the launch, XRP's recovery above $2.85 indicates that institutional and individual investors maintain their confidence. Analysts are now awaiting a decisive close above $3.10, which could pave the way for a move towards higher resistance near $3.60 and beyond.

Meanwhile, on-chain activity remains strong. Veteran trader Peter Brandt recently identified a pattern he calls a "double bottom" on XRP's chart, predicting a potential price increase of 60% to $4.47. Whale accumulation activity has also increased, and address trading activity has surged to levels not seen since March, further strengthening the bullish case.

XRP's inability to hold above $3 is not a sign of weakness but rather a symptom of larger systemic forces at play, at least according to macro analyst Versan. His analysis suggests that XRP is caught in a tug-of-war between its revolutionary potential and the stagnation of a financial system eager to maintain control.

With increasing adoption, strong on-chain metrics, and the upcoming ETF launch, XRP seems to be at a pivotal moment. Whether it escapes the pull of the Bitcoin cycle and the constraints of traditional markets could determine if the next breakout above $3 will be short-lived or the start of a new era.