Ripple ($XRP ) traded in a wide range, between $3.46 and $3.57, during the 24-hour period ending July 23 at 8:00 GMT. The currency recorded a volatility of 3%, with bulls pushing the price to its session high of $3.57, with a trading volume of 106.4 million, before profit-taking caused a pullback to $3.46.

The recent decline broke the key support level at $3.50, which was retested several times overnight.

Trading volume surged as institutional flows interacted with a confluence of motivating factors: U.S. cryptocurrency legislation, new approvals for exchange-traded funds, and the completion of a long-awaited technical pattern. Analysts still point to price targets between $6 and $15 in the long term, but caution against short-term consolidation risks.

News Background

• The price of Ripple surpassed $3.65 last week, completing a six-year symmetrical triangle pattern.

• ProShares launched the first exchange-traded fund for XRP futures, marking a significant achievement in organized institutional access.

• The U.S. Congress passed bills #GENIUS and #CLARITY , pushing for clarity in cryptocurrency regulation and boosting funds toward large market cap digital assets.

Price Action Summary

The most active movement came at 5:00 PM GMT on July 22, when the price jumped $XRP

From $3.52 to $3.56 in less than an hour with a trading volume of 106.4 million, which is over 50% of the daily average of 70.1 million. Resistance formed at the $3.56-$3.57 range, limiting the rise and leading to a steady decline during the night trading session.

The last hour (7:10-8:09 GMT) saw a decline from $3.47 to $3.46, with trading volume rising to 2.5 million between 7:37 and 7:49. This move broke through the previously strong support range between $3.49 and $3.51, confirming a shift in the short-term trend, as selling overwhelmed buyers.

Technical Analysis

• 24-hour trading range: $3.46-$3.57 (3.18%)

• Bullish breakout at 5 PM on July 22: $3.52 → $3.56 with a trading volume of 106.4 million

• Support area: $3.49-$3.51, tested several times overnight, failed at session close

• Resistance area: $3.56-$3.57, now defining the next breakout point

• Breakout confirmation: $3.47 → $3.46 with a trading volume of 2.5 million

• Relative Strength Index is neutral; Moving Average Convergence Divergence (MACD) is declining - indicating the possibility of consolidation before the next directional move

What traders are watching

Institutional participation remains high amid ETF flows and improving regulatory indicators. Despite price rejection in the near term at $3.57, analysts still warn of bullish prospects targeting $6.00, and even $15.00 over the coming months. The $3.50 level now represents a psychological pivot point for bullish investors in the upcoming sessions. $XRP #BTRPreTGE #Ripple #CryptoClarityAct