XRP (XRP-USD) just bulldozed through a six-year triangle ceiling. But it wasn’t just charts doing the lifting; Washington and Wall Street showed up at the same time.
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After months of regulatory purgatory, XRP surged 4% in a single day to close near $3.51, with price action confirming a symmetrical triangle breakout that technical traders have been watching since 2019. The move came as Congress advanced the GENIUS and CLARITY Acts, two landmark crypto bills aimed at cementing digital asset classification and rules of the road.
And Wall Street followed the signal. ProShares launched the first XRP futures ETF, adding a much-needed institutional on-ramp that could change up how capital flows into the altcoin over the next few months.
Together, these developments triggered a breakout backed by real volume, real capital, and, for once, regulatory tailwinds.
A Structural Breakout Meets a Policy Breakthrough
For years, XRP has traded under a cloud of legal ambiguity. That began to shift this week as U.S. lawmakers advanced the GENIUS and CLARITY Acts, legislation designed to provide clear definitions and oversight of digital assets. These bills represent the most meaningful progress in classifying tokens like XRP, reducing the legal drag that’s dogged the asset since the SEC-Ripple lawsuit.
Simultaneously, ProShares dropped its XRP futures ETF, a product that gives institutions a compliant, tradable vehicle to express views on XRP, long or short, without needing to custody the asset directly. The ETF listing adds credibility and infrastructure to an asset that has long struggled for institutional legitimacy.
XRP’s $3.50 Break Sparks Bullish Ambitions
From July 22 at 03:00 to July 23 at 02:00, XRP climbed 4%, trading from a session low of $3.42 to a high of $3.57, before closing at $3.51.
This gave traders technical validation. The breakout above $3.50, a key resistance level within a multi-year symmetrical triangle, came on volume that spiked 52% above average. This signals broader participation.
Still, the final hour of the session showed signs of institutional profit-taking, with a 2.25 million XRP sell-off between 02:02–02:03 GMT briefly pushing prices back down before a mild rebound. That kind of end-of-day behavior often signals recalibration rather than reversal.
XRP’s Next Major Price Targets Are $6 and $15
Because of this momentum, analysts are now pointing to $6 as the next major price target. That level marks the measured move from the triangle breakout and would represent nearly a 70% gain from current levels. But the enthusiasm doesn’t stop there. Some longer-term projections are reaching as high as $15, especially if broader crypto markets continue rallying and the ETF narrative deepens.
These numbers may sound ambitious, but after consolidating under heavy resistance for years, XRP’s breakout has real technical backing and the kind of macro tailwinds that traders look for when trying to catch the next opportunity.
Where XRP Needs to Hold and What It Must Break to Keep Running
The first major level to watch is $3.50, the line XRP just crossed. This isn’t just a round number; it acted as a ceiling for years, and now that it’s been broken, traders want to see it flip into solid support. If XRP holds above this level in the next few sessions, it could build a base for a continued run higher.
Intraday resistance showed up around $3.57 during the most recent session, which capped the rally and triggered a short round of profit-taking. That makes $3.57 the next short-term hurdle to clear. Beyond that, the weekly high at $3.64 is in focus.
On the downside, $3.42 has held firm as support, tested multiple times during the past 48 hours. It’s where institutional buyers have consistently stepped in, and it may act as a floor if the price dips again.
Momentum indicators like RSI and MACD are sitting in neutral territory, meaning XRP isn’t overheated and still has room to climb. That’s important, because it tells traders there may still be fuel in the tank before things get overstretched.
XRP now has regulatory structure, an institutional ETF, and a multi-year pattern resolution, all landing at the same time. And if $3.50 holds as support, the race to $6 may already be underway.
At the time of writing, XRP is sitting at $3.4458.
