With strong accumulation momentum from whales (+2.7k wallets ≥1 million $XRP ) and the launch of ETF ProShares UXRP on 18/7, XRP is approaching the resistance area of $3 — significant breakout potential if successfully held.
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1. Today's update
Current price: ~$2.92, slightly down ~0.8% compared to 24 hours ago
24h volume: approximately $8.8 billion (~5% Vol/MarketCap)
Market capitalization: ~ $172–174 billion, ranking 3rd–4th in the entire market
Sentiment: +26–30% over the past week — the strongest increase since November
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2. News & price momentum
🔹 Short‑term catalysts
Whale accumulation: +2.7k wallets ≥1 million XRP, totaling over 47–49 billion XRP accumulated last week
ETF ProShares UXRP: set to launch on 18/7, creating a "double leverage" for institutional capital
On-chain breakout: Price surged strongly from $2.58 to $2.96, confirming the ascending triangle pattern, high volume, significant short squeeze (~$31M liquidation)
🔸 Long‑term narratives
Technical & legal basis: Ripple aims for ISO 20022, legalizing on EVM sidechain (1.4k smart contracts last week)
Banking & cross-border connection: XRP is the preferred choice of financial institutions, seen as a "fast - cheap international payment bridge"
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3. Technical analysis & scenarios
Technical model: Forming a falling wedge / ascending triangle, price accumulating below $3, creating breakout momentum
Technical indicators: Neutral RSI ~50; bullish MACD; positive on-chain flow signals from whales/futures order box
Support – Resistance:
Support: $2.70–2.75 (trendline and testing area 11–12/7)
Resistance: $2.95–3.00 (previous peak + ETF area), followed by $3.40–4.47 according to Peter Brandt's forecast
Scenario:
✅ Bull: Hold >$2.75, break >$3 → target $3.40–4.47 (could reach $4+ according to Brandt)
❌ Bear: Break below $2.70 → may retest $2.50–2.60 or the wedge support area ~$2.20–2.30 (CoinCodex predicts wedge)
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4. Proposed investment strategy
Short-term trader
Buying zone: $2.75–2.85 (when retesting after breakout or ETF launch spillover).
Target: $3.00–3.40.
SL: below $2.70 (break support).
Entry when volume >$9 billion or clear ETF inflow, whales continue to push.
Medium – long-term holder
Accumulation: $2.60–2.75 (blocking gradual accumulation before ETF).
Long-term target: $4.50–5.00+ (according to technical forecast + ETF + adoption).
Long-term SL: below $2.50 (break wedge, could create an opportunity to increase when the price drops).
> ⚠️ Not investment advice. DYOR & manage capital appropriately.
