TLDR
XRP’s market cap reaches $170B, overtaking Tether to become the 3rd largest crypto.
XRP’s open interest surged by 22.31%, signaling growing bullish sentiment.
Strong buying pressure keeps XRP above key support levels of $2.35-$2.40.
Technical indicators suggest XRP is poised for a breakout to new all-time highs
Veteran chart analyst Peter Brandt has expressed optimism regarding XRP price movement, suggesting the cryptocurrency is poised for further gains. According to Brandt, the ongoing price consolidation above key support levels signals that XRP may soon continue its upward trajectory. As XRP’s price trades at $2.77, the cryptocurrency is showing signs of a potential breakout, with $3 being a possible target in the near future.
Peter Brandt Says XRP Price Consolidation Precedes Bullish Move
XRP has been in a consolidation phase since breaking out from a long-term symmetrical triangle in late 2024. The price has remained within a narrow range of $2.00 to $3.00, reflecting strong buying pressure from market participants. Brandt highlighted that this sideways movement is not a sign of weakness, but rather a pause before the next phase of price acceleration.
“The price is holding steady above the old resistance level of $2.35-$2.40, which now acts as support,” Brandt noted. This indicates that market sentiment remains positive, with buyers maintaining control. Furthermore, Brandt emphasized that the volume accompanying this consolidation suggests that the move is not a false breakout.
According to market data, XRP’s open interest has risen by 22.31%, reflecting growing bullish sentiment. The trading volume has surged over 236%, further supporting the idea that a significant upward move could be on the horizon.
Technical Indicators Suggest Continued Uptrend
Brandt’s analysis points to several technical indicators that suggest XRP is on track for more gains. The Average Directional Index (ADX), which measures the strength of a trend, currently sits above 51, indicating that the bullish trend is strong.
Additionally, the Average True Range (ATR), a volatility indicator, has decreased slightly, suggesting a pause before a larger move.
The price’s position above its 8-month simple moving average supports the notion of a continued uptrend. With these indicators aligning, Brandt believes XRP is gearing up for a major price movement that could push it towards new all-time highs.
XRP’s Market Cap Growth and Increased Investor Interest
In addition to the technical outlook, XRP has recently seen a surge in investor interest. XRP’s market cap has risen to $170 billion, making it the third-largest cryptocurrency by market capitalization, surpassing Tether. This increase in market value comes as more wallets are created, with over 6,900 new wallets added in a single day, the highest number since March 2025.
XRP’s popularity has also grown on social media, with over 5.5% of all crypto-related conversations focusing on the token. These factors indicate that investor confidence in XRP is at a high, aligning with Brandt’s prediction of further upward momentum.
The strong interest in XRP is also reflected in its recent price surge, with the token climbing 24% in the past week and 26% higher in July 2025. As the broader cryptocurrency market shows continued strength, XRP’s rally has gained traction, with analysts expecting it to breach the $3 mark soon.
XRP Price Path to $3 and Beyond
As XRP approaches the $3 mark, analysts are closely watching for any signs of further movement. Several analysts, including Brandt, believe that a clean break above $2.60 could clear the way for a move towards $3.00 and potentially beyond.
This would represent a key test for XRP, as the $3.00 level has acted as a significant psychological barrier for the token.
Other analysts, such as Dark Defender, have also noted the importance of XRP’s recent breakout and its potential for continued gains. Dark Defender believes that XRP is in the midst of a fifth-wave breakout, with targets potentially surpassing the $3.84 mark.
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