The post XRP Pulls Back After Technical Surge; Pattern Still Points to $6 Target appeared on BitcoinEthereumNews.com.

XRP traded in a wide $0.11 range between $3.46 and $3.57 during the 24-hour period ending July 23 at 08:00 GMT. The asset posted a 3% swing as bulls drove price to a session high of $3.57 on 106.4 million volume, before profit-taking triggered a reversal back to $3.46. The late decline broke key support at $3.50, which had been retested multiple times overnight. Volume surged as institutional flows reacted to a confluence of catalysts: advancing U.S. crypto legislation, fresh ETF approvals, and long-awaited technical pattern completion. Analysts still point to $6–$15 price targets long term, but warn of short-term consolidation risk. News Background • XRP broke above $3.65 last week, completing a six-year symmetrical triangle.• ProShares launched the first XRP futures ETF, marking a milestone in regulated institutional access.• U.S. Congress advanced the GENIUS and CLARITY Acts, pushing forward crypto regulation clarity, fueling fund flows into large-cap digital assets. Price Action Summary The most aggressive move came at 17:00 GMT on July 22, when XRP jumped from $3.52 to $3.56 in under an hour on 106.4 million volume—over 50% above the daily average of 70.1 million. Resistance formed at the $3.56–$3.57 zone, capping upside and triggering a steady retreat through the overnight session. The final hour (07:10–08:09 GMT) saw a breakdown from $3.47 to $3.46, as volume spiked to 2.5 million between 07:37 and 07:49. That move cracked the previously firm $3.49–$3.51 support band, confirming a short-term trend shift as selling overwhelmed buyers. Technical Analysis • 24-hour trading range: $3.46–$3.57 (3.18%)• Bullish breakout at 17:00 July 22: $3.52 → $3.56 on 106.4M volume• Support zone: $3.49–$3.51 tested multiple times overnight, failed by session close• Resistance zone: $3.56–$3.57 capped rally, now defining next breakout point• Breakdown confirmation: $3.47 → $3.46 on 2.5M volume spike• RSI neutral; MACD turning lower —…

---

Filed under: News - @ July 24, 2025 2:24 am