- XRP broke past $2.50, supported by technical indicators and market-wide bullish momentum led by Bitcoin.
- ETF inflows into the XXRP fund have surpassed $189 million, boosting confidence in Ripple-linked products.
- Policy attention in Washington and strong corporate demand for crypto continue to shape XRP’s near-term outlook.
XRP gained further ground on July 11, closing above the key $2.50 level as bullish sentiment continued across the broader cryptocurrency market. This marks the fourth consecutive session of gains for the token, supported by rising investor interest and strong technical indicators.
The XRP daily chart has shown a bullish pennant pattern forming through 2024. This structure, confirmed by a prior breakout and a consolidation phase, now suggests a possible move toward $4.24. Analysts calculate this target using the flagpole height from the previous breakout at $2.30. A breakout beyond the year-to-date high of $3.92 may confirm this bullish setup.
ETF Demand Fuels Investor Optimism
Investor appetite for XRP exposure has increased following the recent launch of the XXRP ETF. Despite elevated fees, the fund has recorded continued inflows, with assets under management now exceeding $189 million. Market observers expect the total to reach $200 million in the coming days. This trend mirrors broader growth in cryptocurrency ETFs, where total inflows have crossed $51 billion so far this year.
Recent developments in Washington are also impacting XRP sentiment. Ripple CEO Brad Garlinghouse presented testimony to lawmakers, stressing the need for balanced digital asset regulations. Additionally, the upcoming “Crypto Week” in Congress is expected to include discussion of the GENIUS Act. These discussions may directly affect Ripple’s RLUSD, which recently surpassed a $500 million market cap.
Bitcoin Rally Supports Altcoin Strength
The record-breaking performance of Bitcoin, which has surged near $120,000, has played a key role in lifting altcoins like XRP. The strong inflows into Bitcoin ETFs and reduced token supply on exchanges have driven the rally. This rising momentum has extended to other digital assets, positioning XRP for additional upward movement if current trends hold.
