After soaring to a multi-month high of $3.66, XRP has pulled back to around $3.38. But analysts say this is likely a healthy pause — not the end of the rally.
Despite the dip, technical indicators suggest XRP’s bullish structure remains intact. The token’s recent breakout from a symmetrical triangle pattern continues to support price momentum, and growing ETF speculation is fueling long-term optimism.
Why XRP Pulled Back
Traders began taking profits after XRP surged nearly 30% in a week, hitting $3.66 on July 22 — its highest price since the early 2021 bull run. The move was driven by:
- Institutional momentum tied to leveraged XRP ETF products
- Positive sentiment from the Genius Act, which would provide clearer crypto regulation
- Breakout above resistance on both daily and weekly charts
But after testing the top of a multi-year trendline, XRP was rejected near the $3.70 mark — a historically sticky resistance level.
Analysts Still Eye $6 as Next Major Target
Despite the pullback, analysts say the bullish pattern remains valid. A retest of the breakout zone near $3.25–$3.30 is seen as a buying opportunity, not a red flag.
According to market strategists:
- The recent rally broke a descending resistance line that had held since 2021.
- Fibonacci extension levels point to $4.85 and then $6.00 as likely targets if momentum continues.
- Weekly RSI is still below overbought territory, leaving room for further upside.
What Could Push XRP Toward $6?
Several catalysts could reignite XRP’s momentum:
- Approval of a spot XRP ETF: While a 2x leveraged XRP ETF is already live, a true spot product would dramatically expand access and capital inflow.
- Regulatory clarity: Progress on the Genius Act or favorable SEC rulings could remove uncertainty that’s held XRP back.
- Broader crypto rally: If Bitcoin maintains its position above $120,000, altcoins like XRP typically follow.
Key Levels to Watch
- Support: $3.25 and $2.85 (former breakout and consolidation levels)
- Resistance: $3.70 and $4.20 before the major psychological barrier at $6.00
Final Thoughts
XRP’s short-term retreat doesn’t negate the broader bullish trend forming on long-term charts. With ETF speculation, political tailwinds, and technical momentum in its favor, XRP remains a top altcoin to watch heading into August.
FULL COVERAGE: XRP | Cryptocurrency Market
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