XRP Price Holds Below $2.50 Amid Stagnation, Eyes July Breakout

XRP, the cryptocurrency known for its utility in cross-border payments, has remained stuck below the $2.50 mark over the past 30 days. Despite brief movements, the token has failed to break out of its tight trading range, causing investor sentiment to waver. As of the latest data from CoinMarketCap, XRP is trading at $2.08, up 2.36% in the last 24 hours. However, trading volume has dropped 27.54% to $1.72 billion, indicating reduced market activity and potential investor hesitation.

Technical indicators show XRP has slipped out of an ascending wedge, signaling possible bearish momentum. If bulls don’t intervene, the price could dip below the key $2 support level and potentially fall to $1.60. Still, bullish traders remain optimistic, targeting a short-term rise to $2.25, which could help the asset escape its current price gridlock.

Adding to the cautious optimism is growing institutional interest in Asia. HashKey Capital recently launched the first XRP tracker fund in the region, aimed at professional investors. This move could significantly boost XRP's institutional adoption and positively influence price action. Historical patterns also suggest July may be pivotal for XRP, with some analysts predicting a potential double-digit rally if momentum builds.

Despite broader market volatility, XRP has shown resilience, holding relatively steady while other assets fluctuate. Investors are now closely watching whether increased adoption and improving sentiment can fuel a sustained breakout and finally push XRP past the $2.50 resistance. With eyes on upcoming developments, particularly in Asia, July could be a make-or-break month for XRP's long-term trajectory.