XRP Holds Long-Term Breakout as Short-Term Selling Tests Key Support

XRP continues to trade within its bullish breakout structure, though late-session selling pressure has cast a shadow over the short-term outlook. Despite strong institutional interest and ongoing momentum from ETF approvals and legislative advances, the asset slipped back below key support on July 23.

Over the past 24 hours ending at 08:00 GMT, XRP ranged between $3.46 and $3.57, swinging 3% as intraday bullish momentum gave way to profit-taking. The high of $3.57, reached on elevated volume of 106.4 million, marked a continuation of the uptrend before sellers pushed the price back to $3.46 by session close.

The reversal broke through the $3.50 zone — a previously resilient support area retested multiple times in overnight trading — signaling a possible near-term consolidation phase.

Drivers Behind the Move

Institutional flows surged amid several major catalysts:

• The successful breakout above the $3.65 level last week confirmed a six-year symmetrical triangle pattern.
• ProShares launched the first XRP futures ETF, opening a new door for regulated institutional exposure.
• U.S. lawmakers advanced the GENIUS and CLARITY Acts, signaling progress on crypto regulatory frameworks and boosting investor confidence.

Price Action Highlights

The sharpest move occurred at 17:00 GMT on July 22, when XRP spiked from $3.52 to $3.56 in less than an hour, powered by high-volume buying that exceeded the daily average by over 50%.

However, resistance at the $3.56–$3.57 range stalled the advance. A slow pullback followed, with sellers gaining control in the final hour of trading. Between 07:37 and 07:49 GMT, volume spiked to 2.5 million as XRP dipped from $3.47 to $3.46, breaching the critical $3.49–$3.51 support zone and confirming a short-term trend shift.

Technical Summary

• 24-Hour Range: $3.46–$3.57 (3.18% swing)
• Breakout Move: $3.52 → $3.56 on 106.4M volume
• Support Zone: $3.49–$3.51 (broken at close)
• Resistance Zone: $3.56–$3.57 (still intact)
• Breakdown Confirmation: $3.47 → $3.46 on volume spike
• Indicators: RSI remains neutral; MACD is turning lower — both suggest a period of consolidation may follow

Outlook

While short-term momentum has slowed, the broader bullish structure remains intact. Analysts continue to eye long-term price targets of $6 to $15, supported by ETF tailwinds and the evolving U.S. regulatory environment.

Traders are now watching whether bulls can reclaim the $3.50 level — a key psychological and technical pivot — to maintain upward momentum in the sessions ahead.