Usman Salis
XRP (Ripple) is closing in on $3 for the first time in seven years, with one analyst eyeing a potential run to $6 once this key level breaks.
XRP (Ripple) Price Momentum Builds Near $3 Resistance
XRP is trading at $2.94 right now, up 6% in the past 24 hours and 29% over the last week. The token is getting close to that crucial $3 psychological mark - a level we haven't seen since 2018. Its seven-day range sits between $2.25 and $2.95, and traders are watching closely to see if it can finally break through this long-standing resistance.
The recent push comes as Bitcoin hit a new record high above $120,000 on July 14, lifting the whole crypto market. XRP's 24-hour trading volume stands at $7.15 billion, up 5.9% from yesterday, showing there's real interest behind this move.
Looking at the charts, XRP is trying to break past that $3 wall with some serious upward momentum. The price is riding the upper Bollinger Band and sitting well above the 20-day moving average at $2.85. Sure, the RSI is showing overbought at 83, but the momentum and MACD are still pointing up. The price is trading above all major moving averages, including the 200-day EMA at $2.14 and the 10-day EMA at $2.60.
Big Wallets Are Loading Up on XRP
Whale interest has clearly picked up, according to crypto.news reporting on July 10. More than 2,742 wallets now hold at least 1 million XRP each. These big holders are sitting on over 47 billion XRP total, showing they're pretty confident about where this is headed.
The derivatives market is heating up too. Data from Coinglass shows futures volume jumped 10.48% to $17.31 billion, while open interest climbed 10.64% to $8.12 billion. More traders are jumping in, which usually means something's about to happen.
XRP (Ripple) Price Targets and What's Next
Some analysts are getting pretty bullish on where this could go. Ali Martinez posted on X on July 12 that a confirmed weekly close above $3 might open the door for a longer rally toward $6 or higher.
In the short term, XRP could push toward the $3.50–$4.20 range if it breaks above $3 with strong volume and holds there for a weekly close. Things like ETF news and regulatory clarity could keep the momentum going. That longer-term path to $6 that Martinez is talking about could definitely happen if everything lines up right.
But here's the thing - if XRP can't hold above $3 or gets rejected around there, especially with weak volume, we might see some profit-taking. Support should show up around $2.35–$2.45 where several moving averages cluster together. The first support to watch is around $2.60, right at that 10-day EMA.
The setup looks pretty solid for a breakout, with multiple indicators pointing in the same direction. With Bitcoin setting new records and the overall crypto market looking strong, XRP seems ready to finally break that seven-year ceiling.
Usman Salis
