TLDR
- XRP gained 4% to trade at $3.51 after breaking out of a six-year symmetrical triangle pattern
- Congress advanced GENIUS and CLARITY Acts reducing regulatory uncertainty around XRP’s classification
- ProShares launched the first XRP futures ETF marking institutional adoption progress
- Technical charts show potential targets of $5.80 to $6.03 representing 67-75% upside
- Institutional selling emerged in final trading hour despite overall bullish momentum
XRP traded at $3.51 after posting a 4% gain in the 24-hour period ending July 23. The digital asset broke out of a six-year symmetrical triangle pattern while moving between a daily low of $3.42 and high of $3.57.

The breakout comes as the U.S. Congress advanced the GENIUS and CLARITY Acts. These bills establish a legal framework for digital assets and reduce uncertainty around XRP’s security classification.
ProShares launched the first XRP futures ETF during the same timeframe. This marks a step forward for institutional adoption of the digital asset.
XRP price needs to close above the eight-year high at $3.66 to continue its upward trajectory. Technical analysis shows a measured target of $6.03 based on the triangle breakout pattern.
Such a move would represent a 75% gain from current price levels. Wall Street analysts have issued $6.00 price targets following confirmation of the triangle breakout.
The breakout occurred during the 17:00-18:00 window on volume of 106.4 million units. This was roughly 52% above the 24-hour average of 70.1 million.
Technical Patterns Show Multiple Bullish Signals
The four-hour chart displays XRP trading within a bull pennant formation. The price faces resistance from the pattern’s upper trend line at $3.46.
A candlestick close above this level would clear a path toward the bull pennant’s target at $5.80. This represents a 67% increase from the current price.
A bull pennant is a bullish continuation pattern that forms a small symmetrical triangle after a sharp price rise. It typically resolves with an upward breakout that continues the initial bullish trend.
The 90-day spot taker cumulative volume delta shows buy orders have become dominant again. This measures the difference between buy and sell volume over a three-month period.
Since early June, demand-side pressure has dominated the order book. XRP hit multi-year highs above $3.66 on Friday as a result.
Positive CVD indicates optimism among bullish traders anticipating further price increases. The chart shows more buy orders are being placed than sell orders despite 99% of XRP holders being in profit.
Institutional Activity Shows Mixed Signals
Despite bullish momentum throughout the trading day, institutional selling emerged in the final hour. This pared gains and signals possible near-term consolidation.
The final 60-minute window from 01:09 to 02:08 GMT showed distribution behavior. XRP Prices climbed from $3.50 to $3.52 by 01:46 before reversing.
A high-volume drop of 2.25 million units between 02:02-02:03 marked the day’s most intense sell-off. This pushed prices to $3.50 before a marginal recovery.
Support remains strong at $3.42, which was retested successfully multiple times. This confirms a strong institutional bid zone at current levels.
Resistance sits at $3.57 based on intraday action, with strong overhead supply observed in the final trading hour. RSI and MACD indicators remain neutral, suggesting limited short-term momentum.
Longer-term projections from analysts reach as high as $15.00 based on breakout extension calculations. Whether $3.50 holds as psychological and technical support will be key for continued upward movement.
ProShares launched the first XRP futures ETF during the same period as the technical breakout.
Final Thoughts
XRP price is currently $3.51 after breaking out from a six-year symmetrical triangle pattern, with technical targets suggesting a potential rise to $5.80 to $6.03, representing a 67-75% upside. Institutional interest continues to build, though recent selling pressure could lead to short-term consolidation.