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#XRP price nears breakout as top Ripple ETF hits $158m milestone#
XRP price is nearing a significant move in July as its triangle pattern nears confluence and a recently launched leveraged exchange-traded fund gains momentum.
Further, Ripple will be a major beneficiary of the GENIUS Act, which will regulate stablecoins. The RLUSD stablecoin’s market cap has jumped to $455 million, a figure that will likely continue soaring this year.
XRP price technical analysis 📉
The daily chart shows that the XRP price has remained in a tight range in the past few months. It has held steady above the crucial support level at $2, which coincides with the lower side of the symmetrical triangle pattern.
This triangle pattern formed after the token surged in November last year, making it a bullish pennant. A pennant is a popular bullish continuation pattern.
The other bullish aspect is that the Average True Range has dropped, and the spread between the two lines of the Bollinger Bands has narrowed. This is a sign that its volatility has dried up.
Therefore, the token will likely have a strong bullish breakout, with the next point to watch being at $3.8, up by 60% from the current level.
#XRP# #btc# #eth# #SOL#