XRP Breaks Resistance, Eyes $3.40–$3.60 Before ETF Debut
XRP has broken key resistance from both descending and ascending triangle formations, surging from $1.78 to nearly $3.00 in under 48 hours and confirmed by high trading volume and new wallet inflows. The technical pattern targets a rally to $3.40–$3.60, with potential extension toward $5 if broader market conditions remain supportive. Fundamental catalysts include the ProShares XRP ETF debut on July 18, Ripple’s national trust bank application, and progress in the SEC lawsuit, all reducing regulatory uncertainty. Traders are eyeing the $3.00 psychological level for FOMO-driven buying, as former resistance flips to support. Short-term pullbacks may occur, but the convergence of technical strength and institutional inflows underpins a bullish outlook for XRP.
Bullish
XRP’s technical breakout above descending and ascending triangle resistance, confirmed by high volume, new wallet inflows and whale accumulation, indicates strong short-term momentum. The upcoming ProShares XRP ETF launch and progress in Ripple’s SEC lawsuit add long-term bullish catalysts by attracting institutional capital and reducing regulatory risk. Traders are likely to push prices through the $3.00 level on FOMO, reinforcing support and extending gains. While minor pullbacks may occur, the convergence of technical strength and fundamental improvements supports a sustained bullish trend for XRP.