XRP Builds Higher Lows, $2.93 Breakout Would Signal Trend Shift

Key Points

1. XRP traded in a narrow range, closing at $2.89 with a 1.8% daily gain, facing resistance at $2.93 and support at $2.85.

2. Institutional selling prevented breakouts above $2.93, while buy-side activity at $2.85 suggests tight-range rebalancing ahead of the ETF launch.

3. The ProShares’ XRP Futures ETF is set to launch on July 18, with market activity indicating potential volatility spikes.

4. Volume spikes and accumulation zones near $2.85 hint at positioning for future price movements, but regulatory ambiguity limits upside potential.

5. A clear break above $2.93 with volume above 100 million is needed for a continuation of the upward trend, while failure to hold $2.88 could lead to a retest of $2.82.