XRP news: Price consolidates near $2.27 as bulls eye breakout beyond multi-week resistance wall
XRP holds support above $2.25 as traders monitor $2.40–$2.65 resistance zone for breakout
XRP traded around $2.27 on July 7, stabilizing after a gradual recovery from the June lows. The asset has reclaimed short-term momentum, aided by support from rising exponential moving averages and a confirmed flip in the Parabolic SAR.
Highlights
- XRP holds near $2.27 with bullish signals emerging from Parabolic SAR and VWAP reclaim
- Support between $2.20 and $2.25 remains structurally important for sustaining the bullish bias
- A daily close above $2.40 could trigger a move toward the next liquidity zone at $2.60
However, price action remains trapped beneath a major supply zone between $2.40 and $2.65, which has repeatedly capped upward moves since early June.
Price builds structure above support as compression continues
The 4-hour chart shows XRP coiling within a tightening structure supported by the $2.22–$2.25 EMA cluster. These levels now serve as dynamic support, reinforced by the 200 EMA at $2.20, which has not been breached since the start of July. The narrowing Bollinger Bands point to suppressed volatility, typically a precursor to a directional breakout.
XRP price dynamics (Source: TradingView)
Trendline support from the June swing low remains intact, and bulls have successfully defended the $2.05–$2.15 demand zone on multiple occasions. To confirm a sustained breakout, XRP must close above $2.36 with increasing volume, allowing for potential upside toward $2.55–$2.60.
Momentum builds but overhead resistance holds firm
Technical indicators remain cautiously bullish. The Parabolic SAR has flipped below price on the daily chart, signaling trend reversal potential, while XRP has also reclaimed VWAP near $2.28. MACD and RSI show early signs of strengthening, but follow-through has remained limited due to persistent supply near the $2.30–$2.40 range.
Short-term sentiment favors bulls as long as price remains above the $2.20–$2.25 zone. However, the $2.40–$2.65 wall remains the key technical barrier that must be cleared to confirm a larger upside continuation.
In previous updates, we noted that XRP needed to hold the $2.05–$2.15 demand zone and reclaim the $2.20 level to maintain its bullish trajectory. With price now building structure above those levels and EMAs aligned beneath, conditions remain favorable for continuation. A daily close above $2.40 remains the primary trigger for targeting higher levels in the short to medium term.
