- XRP is aiming for its first-ever monthly close above $3.03.
- Price is holding steady above strong support levels near $3.07.
- Technical indicators show XRP is consolidating with a neutral outlook.
XRP could be about to hit a major milestone. With just hours left before the end of July, the token is trading at $3.13, putting it in position to close the month above the long-standing resistance of $3.03.
Market watcher EGRAG CRYPTO pointed out that this price level has never been broken on a monthly close. Hitting this mark would be a first for XRP and could shift its long-term trend.
EGRAG referred to this price zone as “The Chasm.” It’s been a major challenge for XRP to cross on a monthly timeframe. For him, reaching this level is already a win. Going beyond it, however, would be a much bigger signal. It could mark the start of a new phase for XRP as the market looks for stronger signs of momentum.
As the close approaches, many are watching closely to see how XRP ends the month. The outcome may set the tone for the weeks ahead.
Also Read: XRP Price Eyes Breakout Toward $4.80 as Bullish Momentum Builds
XRP Technicals Show Mixed Signals as RSI and MACD Flatten
The token has managed to stay above the 20-day exponential moving average, which now sits at $3.07. This level has worked as a solid support zone after the coin pulled back from $3.50 earlier in July.
Additional backing comes from the 50- and 100-day EMAs at $2.77 and $2.56. Together, these lines suggest buyers are still active below the current price.
The RSI, which measures market strength, is sitting at 57.71. That’s a neutral zone, neither strongly bullish nor bearish. The token was in the overbought range earlier in July, but momentum has cooled off. If the RSI climbs back above 60, buyers could return. If it dips under 50, selling might pick up.
The MACD also shows signs of slowing. The MACD line is still above the signal line, but the gap is closing. If the histogram shrinks further, it could lead to a bearish crossover, hinting at a possible drop in price.
Next Move Depends on Key Support
The short-term outlook for the token depends on whether it can hold the $3.07 support. If that level stays firm and the RSI turns upward, the price could push toward $3.30 again. If buying volume increases, a break toward $3.50 might follow.
But if XRP drops below $3.07, a fall toward $2.77 could be next. Continued weakness could send it even lower, with $2.56 acting as the next line of defense.
Also Read: XRP Price Correction Looms as Selling Momentum Builds
