Well, now, the XRP price has gone and formed two distinct chart patterns, which some folks reckon could mean a short squeeze is a-brewin’ in July. 📈
Ripple (XRP) was trading at a cool $2.30 on Tuesday, June 8, up by over 20% from its lowest point in June. That’s what I call a fine day for a crypto enthusiast! 🎉
XRP has a few tricks up its sleeve that might just push its price higher in July. First off, its ecosystem is doing dandy, with tokens like Coreum and Sologenic showing some serious gains this week. The total value locked on the XRP Ledger has climbed to a whopping $62 million, and the newly launched XRP Ledger EVM has hit $52,000. Not too shabby, if you ask me. 💰
Second, there are whispers that Bitcoin (BTC) might finally break above its all-time high this month. Polymarket is betting on it, with the token forming both a cup-and-handle and a bullish flag pattern. If BTC does make a break for it, you can bet the whole crypto market, including XRP, will feel the love. 🚀
Third, Ripple USD is on track to hit the $500 million market cap milestone this month. It’s already surpassed the $485 million mark, and if the GENIUS Act gets signed into law, it could really take off. Tether (USDT) isn’t compliant, so USDT holders in the US might find themselves transitioning to other tokens like USDC, PYUSD, and RLUSD. 🤝
The odds are still good that the SEC will approve multiple XRP ETFs later this year, sitting at a solid 85%. If these funds launch, they could be a hit, just like the recent Bitcoin and Ethereum ETFs. 🏆
And let’s not forget, Brad Garlinghouse is set to testify before Congress on July 9. The XRP price might just get a little boost in anticipation. 📢
XRP Price Technical Analysis
Technical indicators are hinting that an XRP short squeeze could be just around the corner, and for two good reasons. The token has formed an inverse head-and-shoulders pattern, a bullish reversal signal that’s got the bulls all excited. 🐂
XRP has also developed a symmetrical triangle, with its trendlines converging near a breakout point. This triangle is part of an eight-month bullish pennant pattern that started after its short squeeze last November. If it breaks out, XRP could be headed toward last year’s high of $3.39, a 48% jump from where it’s at now. But if it drops below the support at $1.9130, all bets are off. 🚨
Read More
- SOL PREDICTION. SOL cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
- USD TRY PREDICTION
- SHIB PREDICTION. SHIB cryptocurrency
- WLD PREDICTION. WLD cryptocurrency
- EUR AUD PREDICTION
- GBP CNY PREDICTION
- EUR CNY PREDICTION
- CRO PREDICTION. CRO cryptocurrency
- Brent Oil Forecast
2025-07-08 19:47