The price of XRP is going through a critical phase. The coin is currently trading at around $2.93, with a slight increase of 3.17% compared to the previous day.
This article explores whether the continued rise of XRP could drive it to surpass its all-time highs in the coming days as technical and fundamental factors push it to new heights.
Technical analysis of the Ripple (XRP) coin: current conditions
Technical analysis and fundamental events indicate that XRP is going through a critical phase. Although the price is within a resistance area, recent market performance suggests it may be ready for a breakout. What are the key factors that could determine the future of the altcoin in the near term?
The XRP coin has seen a strong rebound in recent days, rising by 3.17%, placing it in a critical resistance area at $2.93, which is about 14% lower than its all-time high. This level has formed a psychological ceiling for the price and has been difficult to surpass in the past 24 hours.
However, price consolidation within this range suggests that accumulation may be occurring, which often precedes a bullish breakout.
Whales continue to increase their positions in XRP. According to Onchain School data, large purchases were recorded on July 11, with wallets holding between 100,000 and 1 million XRP buying more than 9 million tokens, while holders of more than 1 million XRP added about 45 million tokens.
Is it possible to see a new record high before the end of July?
Technically, XRP maintains a bullish structure on daily timeframes. The golden cross that formed in June, with the price surpassing the 50 and 200-day moving averages, reinforces the idea that the market is in a positive trend.
Nevertheless, buying pressure has begun to ease slightly, and the Relative Strength Index (RSI) at around 80 indicates that XRP is in overbought territory. This indicator suggests the possibility of a correction or technical pause in the near term.
Despite this potential stability, the Bollinger Bands on the four-hour charts have begun to narrow, which generally indicates that the market is preparing for a larger move.
In this context, the key will be breaking through the $2.93 level with increased volume, which could lead XRP to new record levels in the short term.
In this sense, XRP is currently in a critical area. Immediate support is at $2.85, and if this level holds, the price could continue its path towards the resistance level between $2.93 and $3.00.
If this barrier is overcome with increased volume, the next target could be $3.20 or even $3.30, levels we haven't seen since January 2025.
However, if the support level at $2.85 is lost, the price is likely to head towards the next support level at $2.65. This level coincides with key Fibonacci retracements and may represent a consolidation area before any further rise.
Fundamental factors supporting the rise in the value of the Ripple token
The momentum of XRP is not only limited to technical factors but also includes fundamental developments. Ripple, the company behind XRP, has made significant regulatory progress, which
Furthermore, the imminent launch of the XRP futures trading fund has caught the attention of institutional investors, which could lead to increased demand and thus the price of the token.
In the context of the cryptocurrency market, XRP is benefiting from a rotation towards projects with strong fundamentals, favoring those tokens with solid infrastructure and increasing adoption.
Ripple's focus on creating solutions for the global financial system puts XRP in a strategic position, especially with more financial institutions adopting blockchain technology.
Sponsored by
In this regard, Ripple announced today its partnership with Ctrl Alt, a real estate tokenization platform used by the Dubai Land Department, to provide its custody technology. This collaboration will support the real estate tokenization project with the Prypco Mint platform.
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