XRP Rises 9.6% in July: Technical Analysis & Price Targets
XRP’s Strong Q2 Performance and July Momentum
XRP is currently trading at $2.35. XRP gained 7.1% in Q2 and it has risen 9.6% and in July alone, marking a fifth consecutive quarter of growth.
Experts note that open interest in this token is increasing, which is a positive signal for its price.
Senate Banking Committee Hearing Highlights Regulatory Progress
Meanwhile, the US Senate Banking Committee held a hearing on Wednesday, with Ripple CEO Brad Garlinghouse participating.
Garlinghouse earlier emphasized the need for US legislation to structure the cryptocurrency market.
Technical Analysis: Triangle Pattern and Key Resistance Levels
From the technical analysis standpoint, we examined the behavior of XRPUSD in late March 2025.
At that time, we observed the token was hovering within a triangle pattern and suggested a potential upward move toward $3.00.
The breakout did occur, but the price action fell short of $3.00, forming a local high at $2.65 before retreating to the $1.
90 support level Therefore, the triangle pattern remains incomplete, while its upper bound has shifted slightly upward.
Two Scenarios for XRP’s Next Move
Two scenarios are currently on the table. The first involves a breakout above the upper bound, exiting the pattern.
The bulls are attempting to push above a local trendline, potentially aiming for the $2.60 horizontal resistance level.
In the event of a confirmed breakout, the next upside target would be $3.00.
The second scenario entails a pullback in XRP, potentially retesting the $1.90 level, with an interim target at $2.10.
Overall, the bulls remain fully in command for the time being.
