XRP is exhibiting signs of a significant price breakout driven by technical indicators and growing institutional interest. Currently trading around $2.93 despite a minor 24-hour dip of 3%, the cryptocurrency shows a strong bullish ascending triangle pattern suggesting imminent upward momentum.
Major catalyst potential comes from Japan’s financial giant SBI Holdings, which manages $241 billion in assets. The firm has filed for a Bitcoin-XRP exchange-traded fund (ETF), signaling institutional confidence that could trigger substantial capital inflows if approved.
Technically, XRP faces decisive resistance at $3.66. A successful breach of this level could propel prices toward the $4 threshold based on historical chart patterns and accumulating buy-side pressure.
Significantly, the ongoing Ripple vs. SEC lawsuit nears a potential dismissal phase, with key deadlines approaching mid-August. A favorable outcome could resolve regulatory uncertainties and boost investor confidence for broader adoption.
Enhanced trading volumes combined with utility-driven momentum reinforce XRP’s potential for an independent breakout regardless of broader market trends.