XRP price at $2.17, down 0.8%, tests key $2.00 support.
Resistance at $2.30; breakout could target $3.40 in July.
Institutional inflows hit $10.6M; whale accumulation up 65%.
Descending triangle pattern signals bearish risk without breakout.
Ripple’s EVM sidechain, USDC integration boost long-term outlook.
XRP Price Nears Decisive Moment
XRP price hovers at a pivotal point, trading at $2.17 after a 0.8% decline in the last 24 hours. The cryptocurrency remains above the $2.00 support level, but faces significant resistance. A breakout above $2.30 could signal a rally toward $3.40, while failure to hold $2.00 may trigger a drop to $1.80.
Institutional interest in XRP exchange-traded products surged, with $10.6 million in inflows for the week ending June 27. This brings year-to-date inflows to $219 million, reflecting growing confidence. Other major cryptocurrencies like Bitcoin, Ether, and Solana also saw inflows of $2.2 billion, $429.1 million, and $5.3 million, respectively.
Whale accumulation strengthens the bullish outlook. Addresses holding 1 million to 10 million XRP tokens now control 9.9% of the total supply, up 65% since November 2024. This suggests large investors are positioning for a potential breakout.
Technical Levels Signal Potential Breakout
XRP trades within a tight range between $2.00 and $2.65. The 20-day exponential moving average at $2.17 serves as a critical short-term level. A strong rebound from this level could push prices toward the $2.35 resistance. Breaking this barrier may pave the way for a rally to $2.65 or higher.
Conversely, a drop below the 50-day simple moving average at $2.20 could lead to a retest of $2.06. If this support fails, prices might slide to $2.00, a level bulls must defend to avoid a bearish shift. The 4-hour chart shows bears defending $2.35 aggressively, indicating a lack of demand at higher levels.
A descending triangle pattern on shorter timeframes raises concerns. Historically, such patterns have led to breakdowns over 50% of the time, as seen in XRP’s 2021-2022 formation. However, positive fundamentals, including potential resolution of the SEC lawsuit and XRP ETF approval, could outweigh bearish signals.
Ripple’s strategic moves bolster optimism. The company’s acquisition of Hidden Road for $1.25 billion aims to attract institutional investors. The launch of an EVM-compatible XRP Ledger sidechain enhances interoperability, potentially increasing demand for cross-border payments and DeFi applications.
On-chain data supports bullish sentiment. Whale flows turned positive in May, a trend that preceded a 420% rally in Q4 2024. Current flows exceed last year’s levels, hinting at a possible repeat in Q4 2025. Additionally, over $1.7 million in XRP was withdrawn from Binance’s hot wallet in a single day, signaling accumulation rather than selling.
The integration of USDC on the XRP Ledger and partnerships with platforms like Alchemy Pay further strengthen its utility. These developments could drive adoption, supporting a breakout from the current $2.05-$2.33 consolidation range.
XRP’s price action remains critical. A break above $2.25, the .382 Fibonacci retracement, could target $2.69. Failure to clear this level may keep XRP range-bound, with bears eyeing a drop below $2.00. Traders should monitor these levels closely over the next few sessions.