XRP (XRP) is flashing a classic bullish setup on the charts just as macro and onchain forces quietly align in its favor, setting the stage for a potential breakout move in July that traders may be underpricing.
XRP is approaching the apex of a falling wedge pattern on the 3-day chart, increasing the likelihood of a decisive breakout in July.
A breakout above the upper trendline could target the $2.92 and $3.63 levels, depending on the breakout’s timing and strength.
Volume has remained relatively stable during the wedge’s formation, while the RSI (relative strength index) sits near neutral at 50.57, leaving room for a directional move.
Notably, XRP continues to hold above its 50-period (red) and 200-period (blue) exponential moving averages (EMAs), reinforcing the bullish bias.
However, XRP could continue consolidating within the wedge throughout July without a strong market catalyst. A breakdown below wedge support risks a drop toward $1.82.
Broader macro conditions are tilting in XRP’s favor.
Equities have started Q3 on a strong note, buoyed by rising odds of the US Federal Reserve cutting rates by September. A shift to easier monetary policy tends to weaken the US dollar and redirect capital into higher-risk assets, including cryptocurrencies.
The US Dollar Index (DXY) has already begun pulling back after a strong first half of 2025, alleviating some pressure on crypto markets.
As a risk asset, XRP stands to benefit from this environment. A weaker dollar increases the appeal of alternative currencies like XRP, especially among investors looking to diversify from traditional fiat exposure.
From a blockchain network perspective, XRP has witnessed a flurry of major updates in recent weeks.
These macro tailwinds, however, haven’t translated into a noticeable uptick in new trader participation.
Onchain data shows that the number of newly created addresses on the XRP Ledger (XRPL) has remained largely flat, suggesting a limited influx of fresh demand despite improving market conditions. The introduction of USDC stablecoin on XRPL may change that.
According to Glassnode, the realized price for short-term XRP holders (1w–3m) has surged well above the aggregated average. It indicates that recent buyers are entering the market at higher cost bases, showing confidence in sustained upside.
Meanwhile, long-term holder cohorts continue to trend upward, suggesting a steady accumulation phase rather than profit-taking.
In essence, smart money has been aggressively positioning into XRP since the Q4 2024 breakout, and they’re holding through consolidation, often a sign of underlying bullish conviction throughout July.
Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.