XRP: The Cryptocurrency Equivalent of a Bad Boyfriend

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Key Insights (or How to Lose Money in Cryptocurrency):

  • XRP might be heading towards $3, but let’s be real, it’s probably just going to break your heart again.
  • According to trader Dom, XRP is trading above a “breakout zone” just above $2.25, but don’t get too excited, it’s not like it’s going to change its ways.
  • Despite all the positive technical signals, there are worrying signs that traders might be gearing up for a sell-off, because who needs a stable relationship, anyway?

 

XRP has been showing signs of life over the past week, but let’s not get too attached. After gaining 4% and briefly holding above the $2.25 mark, the cryptocurrency now stands at a crossroads, wondering which way to go to disappoint us next.

For the token to reclaim its previous high of $3 and push further, it must break through a set of resistance levels, both from a technical and a sentiment perspective. But honestly, who knows what it’s going to do? 🤷‍♀️

Here’s a detailed look at what needs to happen for XRP to resume its upward momentum, and why traders are still shying away despite recent gains, because who wants to get hurt again?

XRP’s Road to $3 (or How to Get Your Hopes Up)

According to analysts, XRP is currently trading around $2.26, with multiple layers of resistance standing in the way of a move to $3. The most immediate technical target lies within the $2.20 to $2.30 range, which includes the 50-day and 100-day simple moving averages (SMA) at $2.22 and $2.20, respectively. But don’t worry, it’s not like it’s going to make it or anything.

The real challenge, however, is the 200-day SMA at $2.36. Historically, when XRP manages to close above this line on the daily chart, it tends to trigger major rallies. But let’s not get too excited, it’s not like it’s going to happen again. 🙄

The last instance occurred in November of last year, which led to a staggering 430% run-up and peaked at $2.90 by December 3. Crypto analyst CasiTrades recently pointed out that XRP has formed multiple higher lows and just reclaimed the $2.25 support. But honestly, who knows what’s going to happen next? 🤔

This convergence of support from trendlines and major SMAs shows good signs of bullish continuation. “We’re now sitting just below $2.30,” the analyst said and identified $2.69 and $3.04 as the next logical targets once the local resistance breaks. But don’t hold your breath or anything.

XRP Volume and Momentum Support the Bulls (or Do They?)

Other analysts seem to agree with the optimistic technical setup. According to trader Dom in a recent update, XRP is now trading above a very important “breakout zone” just above $2.25. But let’s not get too carried away, it’s not like it’s going to last or anything.

BREAK THIS TRENDLINE RESISTANCE

XRP WILL RALLY STRONG

— Mikybull Crypto (@MikybullCrypto)

Here, several volume-weighted average price (VWAP) indicators and the 160-day downtrend line meet up and, “This is the exact momentum bulls need to aggressively show up,” but let’s be real, it’s probably just going to fizzle out.

The analyst went further to predict a strong push toward the $2.40s if the breakout holds. But honestly, who knows what’s going to happen? 🤷‍♀️

The hourly and daily charts also support this view, especially with the ascending patterns and clear consolidation zones giving traders room to expect higher prices. However, price action needs to stay above the ascending support channel to keep this tempo intact. But don’t worry, it’s not like it’s going to happen or anything.

XRP/BTC Breakout Adds to Bullish Sentiment (or Does It?)

Interestingly, XRP is also starting to outperform Bitcoin (BTC). On July 7, the XRP/BTC trading pair broke above a descending trendline that had acted as resistance since March. This breakout stands as the end of a multi-month downtrend and could serve as an early signal of broader strength in XRP. But let’s not get too excited, it’s not like it’s going to last or anything.

More importantly, this price action is backed by a bullish divergence in the relative strength index (RSI). While XRP/BTC dropped in value between May and July, the RSI actually climbed from 28 to 55. This shows that bearish momentum is waning and buyer interest is picking up. But honestly, who knows what’s going to happen next? 🤔

Mikybull Crypto, another analyst following XRP/BTC closely, said that a breakout above 0.000022 BTC would be the final confirmation for a strong upward rally. But don’t hold your breath or anything.

BREAK THIS TRENDLINE RESISTANCE

XRP WILL RALLY STRONG

— Mikybull Crypto (@MikybullCrypto)

A breakout from the ongoing symmetrical triangle pattern could result in up to 70% gains for XRP and more than likely push it beyond the $3 mark. But let’s be real, it’s probably just going to break our hearts again.

Why This XRP Rally Might Still Be a Trap (Spoiler Alert: It Probably Is)

Despite all the positive technical signals, not everyone is convinced that XRP is out of the woods. Recent on-chain data indicates that the current rally might be driven more by profit-taking than fresh demand. But honestly, who didn’t see that coming? 🙄

Data from Glassnode shows that XRP’s Exchange Net Position Change, which tracks how many tokens are moving to centralized exchanges, hit an eight-month high of 283 million XRP on July 7. This typically indicates that traders are preparing to sell, and is adding downward pressure on price. But don’t worry, it’s not like it’s going to crash or anything… oh wait, it probably is. 😂

 

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2025-07-09 16:48