- Crypto analyst Cilinix Crypto shared a video where he notes a possible false breakout above the mark unless backed by increased volume
- He talks about a potential pullback to fill gaps and to expect a drop to $2.65 – $2.75, filling recent imbalances before considering another rally
- Ryan Lee, the Chief Analyst at Bitget Research, said that XRP could reach $5 by the end of this year
At the moment, XRP is hovering around the $3 mark, which is a psychologically important level. A crypto analyst, Cilinix Crypto, shared a video where he notes a possible ‘false breakout’ above the mark unless backed by increased volume.
Cilinix Crypto talks about a potential pullback to fill gaps and to expect a drop to $2.65 – $2.75, filling recent imbalances before considering another rally. He references technical indicators like the 4‑hour uptrend and 7‑day VWAP (Volume-Weighted Average Price).
XRP’s correlation with Bitcoin stands at 77%, meaning BTC movement heavily influences XRP. A BTC rally could boost XRP, whereas weakness could drag it lower.
The key, according to Cilinix Crypto, is volume and that a breakout above $3 won’t stick unless volume substantially increases beyond early July levels. Still, though a near-term pullback is expected, he remains bullish for new all-time highs above $3, depending on market momentum.
Other analysts also feel positive about XRP’s future price. For instance, Ryan Lee, the Chief Analyst at Bitget Research, said that XRP could reach $5 by the end of this year.
Institutional inflows
Quarterly XRP-related inflows reached $37.7 million in Q1, driven by Ripple’s ODL and integration of productized stablecoins and tokenized Treasuries.
A ProShares filing suggests an XRP-linked ETF (UXRP) may launch on July 18, coinciding with a $3.7 billion inflow into crypto ETFs, yet again strengthening the bullish sentiment.
Additionally, when it comes to ETFs, launches from Teucrium, Grayscale, and Tuttle are boosting XRP’s institutional visibility and fueling on-chain interest. At the time of writing, XRP is sitting at $2.98, just shy of the $3 mark.
However, there was some volatility in the last few days, which points to sharp intraday moves. Case in point: July 14 saw volume spike over 1.1 billion XRP, while the day after it hovered around 530 million.
It’s worth noting that XRP’s surge aligns with Bitcoin’s fresh all-time high and increasing correlation between BTC and XRP, reinforcing the case for a continued rally.
Right now, factors such as the continued US ETF acceptance, Ripple’s stablecoin roadmap, and improving institutional narratives are making XRP look like it has a big future in the market.
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