To achieve its highest-ever monthly candle close, XRP needs to finish July above $3.03—a crucial level that has historically signaled the start of powerful, multi-month altcoin rallies. This isn’t just a psychological barrier; it’s a technical trigger. If broken, analysts like Egrag expect a move toward $7–$11, identifying this range as the “Chasm resistance”—a key zone that has capped prior market cycles. Should XRP break through it, the rally could enter parabolic territory with long-shot targets even reaching $37. Notably, prominent traders such as Crypto Bitlord and Cryptollica are eyeing similar levels, reinforcing this bullish outlook.
Adding to the optimism, XRP is poised to close its sixth consecutive green July, with gains near +42%, making it potentially the third-strongest July on record according to CryptoRank. However, analysts emphasize the importance of volume and structure near the monthly close. A lack of strong volume could stall momentum or attract selling pressure. Key support rests around $2.85–$2.95, and any rejection below $3 may signal short-term exhaustion. Upcoming macro events like ETF decisions, U.S. regulatory news, and Fed policy updates could act as catalysts to either confirm or disrupt the breakout. Traders are watching closely—because a monthly close above $3.03 could be the start of something much bigger.