XRP Primed for $2.60 Surge as Bulls Challenge Key Resistance Barrier

XRP traders are leaning forward in their seats—the digital asset is coiling for a potential breakout that could send prices rocketing toward $2.60. After weeks of consolidation, the token is testing a critical resistance level that's kept gains in check. A decisive flip here could trigger algorithmic buying and FOMO-fueled momentum.

Market technicians note the setup mirrors previous explosive moves—like XRP's 2021 bull run—though skeptics whisper about 'ghost rallies' and the crypto market's talent for manufacturing hope just before liquidity events. Either way, the chart doesn't lie: this is the most consequential price inflection point since the SEC lawsuit resolution.

Watch the $0.90-$0.95 zone like a hawk. If XRP slices through with conviction, the path opens for a 180% rally to $2.60. Fail here, and we're back to range-bound purgatory—another 'almost' in crypto's gallery of broken promises.

XRP Faces Critical Resistance At $2.33 – Can Bulls Break Through?

In an X post on July 5, Ali Martinez shares a 4-hour XRP trading chart that shows the altcoin has maintained a constant price range since the beginning of June barring a temporary breakdown between June 22-23.

According to the presented analysis, the $2.33 level has consistently acted as a ceiling for XRP within the specified time frame, with multiple price rejections seen around that zone. On the other hand, the $2.13 – $2.17 price zone has acted as an efficient support range with equal strength, creating a tight consolidation zone that could explode in either direction.

Martinez explains that a breakout above $2.33 could spark a fresh wave of bullish interest potentially pushing XRP toward the next major resistance around $2.60, a price level last seen in May. In the presence of an overwhelming buying pressure, market bulls may extend their rally toward higher resistance zones around $2.70 and even $2.84.

Alternatively, a failure to reclaim $2.33 would force XRP to remain within its present consolidation range. On the the downside, a sharp price dip below $2.13 would expose the altcoin to lower support zones around $2.03 and $1.94, thereby invalidating the current bullish setup.

While the bearish scenario is valid, its worth noting the technical setup favours a bullish outcome considering a recent recovery from the June 23 low, which saw the altcoin briefly dip to around $1.92 before staging a quick rebound above $2.21. In addition, an ensuing price dip below $2.13 was followed by another swift price bounce to $2.32.

XRP Market Overview

In other developments, the XRP Ledger has recently registered a record 1.6 million transactions in 24 hours indicating a high volume of interest and network engagement. However, crypto analyst with X username Ripple Van Winkle highlights the need for equivalent rise in trading volume to induce significant positive price changes.

At press time, XRP continues to trades at $2.21 reflecting a 0.21% decline in the past day. However, the asset’s daily trading volume is valued at $1.17 billion following a 43.16% devaluation. With a market cap of $131.04 billion, XRP ranks as the fourth largest cryptocurrency and a strong investors’ favorite for long-term portfolio addition.