Ripple’s XRP has made a strong start to July, breaking above the $2.20 mark following the launch of the EVM sidechain on the mainnet. This long-awaited update brings Ethereum-style smart contracts to the XRP Ledger, opening up new possibilities for developers and attracting fresh capital to the ecosystem.
The introduction of the XRP EVM sidechain has been highly anticipated within the XRP community, as it establishes a bridge between XRP and the Ethereum network. This integration not only enhances functionality for developers but also paves the way for a range of new decentralized applications, wallets, and cross-chain bridges.
This development comes at a time when altcoins are gaining traction, and XRP’s price movement reflects the overall bullish sentiment in the market.
Given these positive developments, the question on everyone’s mind is whether XRP will surpass the $3 mark in July.
XRP Price Forecast For July
According to renowned crypto analyst CasiTrades, XRP is currently following a bullish breakout pattern that he predicted earlier. The price of XRP has surged towards $2.30, with the next crucial step being a retracement to $2.25.
CasiTrades emphasizes the importance of testing $2.25 as a new support level, as it aligns with the macro .382 Fib retracement. A successful hold at this level could indicate a strong breakout towards higher price targets.
Ripple (XRP) Momentum Still Strong: No Bearish Divergence
CasiTrades points out that the technical indicators for XRP remain robust, with the RSI showing no bearish divergence on lower timeframes. This suggests that the recent breakout was driven by genuine buying volume rather than speculative hype.
If the RSI resets during a retest of $2.25, XRP could gather momentum for a more significant breakout, potentially pushing towards its all-time highs.
How High Can XRP Price Go in July?
If XRP manages to maintain the $2.25 support level, the next major resistance levels to watch are at $2.69 and $3.04. Analysts believe that clearing these levels could propel XRP into “blue skies”, a zone with minimal overhead resistance and significant upside potential.
The resolution of the Ripple vs. SEC legal battle, coupled with rumors of an XRP ETF, has added fuel to the bullish sentiment surrounding XRP.
Final Thoughts
XRP’s recent rally appears to be more than just a short-term spike, signaling the potential for a significant macro breakout. With strong fundamentals, positive momentum, and ecosystem upgrades, XRP may be on the cusp of a major price surge. The XRP community is eagerly watching to see if $2.25 will hold and open the door to $3 and beyond.
In conclusion, XRP’s recent developments and price action suggest a promising outlook for the cryptocurrency. As the market continues to evolve, XRP could be on track for a substantial price rally in the near future. Stay tuned for more updates on XRP and other crypto news on our platform.