XRP Surges 4% Amid Breakout and U.S. Crypto Legislation Progress

XRP recorded a 4% gain between July 22 at 03:00 and July 23 at 02:00, rising from a low of $3.42 to a high of $3.57 before closing near $3.51. The move followed a confirmed breakout from a six-year symmetrical triangle and coincided with two major developments: U.S. Congress advancing the GENIUS and CLARITY Acts, which clarify XRP’s regulatory status, and ProShares launching the first XRP futures ETF, boosting institutional interest.

The breakout occurred as XRP surpassed $3.52 resistance with trading volume spiking to 106.4 million—52% above its 24-hour average. This surge pushed prices to the $3.57 high before late-session institutional selling drove them back to $3.51. Analysts note $3.50 as a critical support level to watch in the next trading session.

Technical indicators remain neutral, with RSI and MACD showing limited short-term momentum. Key levels include $3.57 resistance and $3.42 support, which has been retested multiple times, indicating strong institutional bids. Analysts maintain near-term price targets around $6.00, with longer-term projections reaching $15.00 if the breakout trend continues.

Traders are monitoring institutional flows following the ETF launch and potential further gains as U.S. regulatory clarity evolves. Broader crypto market attention is also focused on upcoming spot ETF developments, which could expand exposure to XRP and reinforce bullish sentiment.