XRP Hits $3.65—6 Terms You Need to Know Before the Next Big Move Toward $5 & Beyond
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Key Takeaways
XRP has reached a new all-time high for the first time since 2018, pushing its market cap toward $200 billion.
The capital inflow into XRP was fueled by U.S. House approval of bills, including the CLARITY and GENIUS Acts.
If momentum holds, XRP could hit $4.50, but a wave of profit-taking might lead to a correction toward $3.02.
For the first time in nearly eight years, XRP’s price has finally reached an all-time high. The milestone comes after the altcoin surged nearly 40% over the past week.
The U.S. Congress’s approval of several pro-crypto bills, including the highly anticipated CLARITY and GENIUS Acts, also seemed to have contributed to this.
These legislative moves aim to exempt certain crypto assets from capital gains taxes and establish a regulatory framework for stablecoins, offering long-awaited clarity for investors and institutions alike.
Amid the event, XRP’s market cap has reached a new high and is on the verge of hitting $200 billion. Here is a breakdown of how it happened and what lies ahead for the altcoin.
Congress Action Sends XRP to Record High
At press time, XRP’s price is $3.45, which is a new record high. According to the 4-hour chart, the altcoin’s surge was triggered by a breakout from a symmetrical triangle pattern that had constrained price action between June 26 and July 8.
As mentioned earlier, the recent passage of the GENIUS and CLARITY Acts also validated the milestone. CCN finding shows that the GENIUS Act passed with a 308 to 122 vote count.
The CLARITY Act, on the other hand, got the green light amid a 294 to 134 vote. Before this development, crypto analyst Pentoshi opined that the vote, if passed, would drive XRP higher, among other factors.
“With XRP it held up for the past 7 months while most of the market nuked and kept this structure. It arguably has little resistance from here bc it never spent time trading here on the verge of price discovery. In terms of positive catalysts, the genius act will be or is passing very soon. XRP will also have its own stablecoin and Bank license which both should be approved shortly SEC lawsuit being dropped entirely in the next few weeks,” He wrote on X.
The breakout occurred when XRP pushed above the $2.30 support level. Once the price cleared that barrier, bulls aggressively defended the triangle’s upper trendline and prevented meaningful retracement.
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Adding to the bullish momentum, XRP formed a golden cross shortly after the breakout. The 20-day EMA (blue) crossed above the 50-day EMA (yellow), reinforcing the case for further upside.
If this trend holds, XRP’s price may soon test the next resistance level, potentially challenge its all-time high.
The last time XRP’s price hit its all-time high of $3.40 was in 2018, nearly eight years ago. However, current on-chain trends suggest that key stakeholders may be preparing for another historic push.
According to on-chain data from Santiment, large XRP holders — specifically wallets holding between 100 million and 1 billion tokens — have increased their positions since the start of July.
On July 1, this whale cohort collectively held 7.6 billion XRP. Today, that figure has ballooned to 9.8 billion, marking an accumulation of 2.2 billion coins.
This substantial uptick in holdings suggests rising confidence among deep-pocketed investors. If accumulation continues at this pace, it could fuel XRP to challenge — and potentially surpass — its all-time high.
The XRP/USD chart is flashing a bullish signal. At press time, XRP has broken above the upper trendline of a symmetrical triangle — a breakout pattern that marks the start of a strong price move.
The Moving Average Convergence Divergence (MACD), which currently shows a positive reading, supports this optimistic outlook.
This suggests upward momentum is building, increasing the likelihood of XRP pushing beyond the $4 mark. The Bull Bear Power (BBP) indicator, which remains above the zero line, further reinforces the bullish sentiment— a sign that buyers continue to dominate.
If this trend of capital inflow and buying pressure holds, XRP could extend its rally toward $4.50 in the near term.
However, caution remains warranted. If holders begin to take profits, the resulting selling pressure could trigger a pullback. In such a case, XRP might retreat to support levels around $3.02, or potentially as low as $2.72.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
