$XRP Following XRP’s bullish run, driven by massive buying pressure, an analyst is cautioning that the asset may be due for a correction.

Indeed, cryptocurrency trading expert Michaël van Poppe noted that XRP’s rally, mainly fueled by the July 19 approval of the ProShares XRP Futures ETF, may have pushed the market into exhaustion, he said in an X post on July 20.XRP’s next price levels to watch as ‘significant correction’ looms

Following XRP’s bullish run, driven by massive buying pressure, an analyst is cautioning that the asset may be due for a correction.

Indeed, cryptocurrency trading expert Michaël van Poppe noted that XRP’s rally, mainly fueled by the July 19 approval of the ProShares XRP Futures ETF, may have pushed the market into exhaustion, he said in an X post on July 20.

XRP price analysis chart. Source: TradingView

The ETF news acted as a key catalyst, reigniting interest in the altcoin and pushing its price above $3.40, a level not seen in years.

According to Poppe, the rally has likely exhausted much of the upward liquidity, indicating that XRP could soon enter a corrective phase. He emphasized that $3.40 is a critical level, warning that failure to hold above it could trigger a “significant correction.” 

XRP price levels to watch 

In such a scenario, he identified the $2.70 to $3 range as a potential accumulation zone. Additionally, the breakout zone near $2.20, which served as the launchpad for the recent surge, may come into focus.