XRP price might be getting ready for a leg up to $5. Today, July 3, it trades at $3.15 with a 3.27% increase in 24 hours. These gains could continue because of a surge in decentralized finance (DeFi) activity after RLUSD volumes on AAVE reached a record high.
XRP Price Targets $5 With Rounding Bottom Breakout
After reaching $3.40 in January, the XRP became exhausted. Those traders who had made profits from the rally became tired of waiting for more gains, and as they started selling, the price fell to a low of $1.61 by April 7.
Afterwards, consolidation happened for three months between April and June. However, in July, when buyers were convinced that it was an “up only” season, they started to buy again. This led to the XRP price increasing from $1.96 to $3.66, a high seen only two weeks ago.
These swings between January and now have culminated in a rounding bottom. That shows the recovery has been healthy, and it might be sustainable.
Besides showing what to expect in terms of movements, this pattern also shows the next target. The first is at $5.13, a 52% increase equal to the height of this saucer bottom. In an even more bullish case, it might get to $7.04.
The RSI is supporting this bullish thesis because it tells us that even after more than 40% gains in July, the XRP price is not done with its rally. Buyers still have some strength left. Until it gets above 90, like it did in December last year, there is little to be concerned about.
Earlier, a CoinGape analysis also detected a bull flag pattern. Here, it suggested that the XRP price may reach $5.90. Therefore, it will not be surprising if bulls show up any moment now.
RLUSD DeFi Presence Soars
The RLUSD stablecoin is not a stranger to DeFi, but it is only now that its presence here is beginning to be felt. Sentora data shows that the volumes for RLUSD on Aave reached $54 million, the highest ever seen.
Aave is like the king of DeFi, and what this means is that when there is activity for a certain coin increasing on its platform, it shows that the coin is spreading its roots in this $140 billion space. This is good for the XRP price.
This growth has also not gone unnoticed by Ripple’s Jack McDonald. In a recent X post, he said that he views it to be an explosive growth. McDonald also did not fail to mention what Ripple has accomplished so far, including RLUSD being ranked ahead of USDC and USDT by BlueChip.
Therefore, the path for the XRP price in August seems to be “up only.” Interest from buyers might be what will contribute to its gains. However, RLUSD is beginning to find its space in DeFi, and this might also help it to rally.
Frequently Asked Questions (FAQs)
XRP price will likely rally in August, and this will likely be driven by buying interest and a rounding bottom that shows a bullish reversal.
XRP price might surge to $7, the target of a rounding bottom pattern that signals a potential bullish reversal.
The growth of RLUSD might be bullish for XRP, especially with the appearance of a rounding bottom pattern signaling a potential bullish reversal.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: