XRP Outperforms Top Altcoins: When Will Bulls Break July Highs?

XRP is firm, but the follow-through of August 18 hasn’t been decisive. For now, buyers have the upper hand and might shape the immediate-term trend. As long as prices trend above $0.55, traders can consider longs, expecting a close above July highs. This preview will especially hold valid should the leg up be with rising trading volume. Overall, the crypto environment is favorable, considering the endorsement of politicians and regulators.

Unlike most altcoins, XRP is in steady, rejecting attempts lower lows. Though there was a whipsaw yesterday, the failure of sellers to reverse gains of August 18 is supportive. At press time, the coin is flat in the past day, adding nearly 4% in the previous week. The average trading volume is also low, at just $1.3 billion.

The following Ripple and XRP news are worth tracking today:

• Though XRP and crypto prices are volatile and mostly stable, the inflow of USDC and USDT to exchanges is on the rise. Overall, the total market cap of all stablecoins stands at over $165 billion.
• Amid this consolidation, there has been a gradual pickup in engagement, as seen in the trading volume in the past few trading days. If prices break out from the current range, the leg up, some analysts claim, will be explosive.

XRP Price Analysis

XRP/USD is firm at spot rates, looking at the formation in the daily chart.

Even though there are hints of strength, conservative, risk-averse traders can wait for a clean breakout.

For now, this resistance stands at $0.66.

However, the bull bar of August 19 guides.

The local support is at $0.55.

Every attempt lower above this level may offer entries for aggressive traders targeting $0.66 and later $0.74.

Conversely, if sellers take over and there is a sudden dump below $0.55, the coin could drop fast to $0.55, questioning bulls’ convictions.