TLDR
- The XRP price is currently trading at $2.2378 and has remained stable over the past few weeks.
- A symmetrical triangle pattern has formed on the XRP chart, indicating a possible breakout.
- The pattern follows a 500 percent rally from November, suggesting a bullish continuation.
- The expected breakout could push the XRP price to $3.4, a 50 percent increase from current levels.
- A fall below the key support at $1.6147 would weaken the bullish outlook and raise downside risks.
The XRP price traded at $2.2378 on July 4, showing minimal movement from the previous day. However, technical indicators, rising market cap, and ETF inflows point toward a possible 50% rally. A convergence of key market drivers now positions XRP price for a significant breakout in the near term.
XRP Price Forms Bullish Triangle Pattern
Ripple’s XRP price has moved within a symmetrical triangle pattern, a structure typically signaling a breakout. The current consolidation began after XRP gained nearly 500% in November, suggesting a bullish pennant formation. As the lines tighten, the probability of a breakout increases, aligning with the previous upward trend.
The symmetrical triangle continues to narrow, and past market behavior indicates breakouts usually follow the direction of the prior trend. XRP’s strong rally before the current consolidation supports a potential move to the upside. Technical projections place the target at $3.4, which marks a 50% rise from today’s XRP price.
- XRP Price Forms Bullish Triangle Pattern
If XRP price breaches $3.4, further momentum could push it toward the $5 psychological level. The immediate support sits at $1.6147, and a fall below that could shift market sentiment. A drop past this support level may bring XRP price below $1, disrupting the current bullish outlook.
XXRP ETF Gathers Strength Despite High Fees
The Teucrium 2X Long Daily XRP ETF (XXRP) has recorded weekly inflows since its April debut. Assets under management are nearing $160 million, despite the ETF’s high 1.89% expense ratio. These consistent inflows suggest that demand remains solid despite elevated costs.
Investor interest in XXRP highlights the rising appetite for XRP exposure through traditional financial instruments. While XXRP has gained 15% since launch, XRP price itself has climbed 24% in the same period. This performance gap emphasizes the underlying strength of the XRP token in direct markets.
Strong demand for the leveraged ETF may signal future interest in spot XRP ETFs. Analysts from JPMorgan estimate $8 billion in inflows once these funds receive approval. This level of demand could directly influence XRP price upward over the next 12 months.
XRP Market Cap Growth Aligns With Bullish Technicals
Ripple’s XRP market capitalization continues to expand, supporting the possibility of further gains in the coming sessions. This growth reflects steady accumulation, often a precursor to major price movements. Increasing interest in XRP aligns with strengthening technical indicators across major platforms.
Rising market cap confirms investor confidence in XRP price stability and potential. At the same time, trading volumes remain consistent, showing ongoing participation across retail and institutional segments. This confluence of signals enhances the probability of a significant price breakout.
