As of July 28, 2025, XRP trades at $3.18 after retreating from its July peak of $3.56, marking a 10.09% weekly decline. The pullback is attributed to profit-taking at the $3.60 resistance level, triggering over $105 million in leveraged long liquidations. Technical charts show consolidation between critical support at $3.16 and resistance at $3.30, with the 20-day EMA converging near $3.15-$3.17. A break below $3.00 could signal further downside toward $2.75.
Contrasting this near-term caution, analysts highlight a monthly breakout from a multi-year triangle pattern resembling XRP's 2017 bull market structure. The current setup suggests Wave 3 of an Elliott Wave cycle may be commencing, with Fibonacci extensions projecting targets at $5.86 (261.8%), $18.22 (361.8%), and $36.76 (561.8%). This bullish thesis is reinforced by the monthly Ichimoku Cloud shift to bullish territory and reclaimed "Macro GO-GO Level" at $1.95.
Institutional outlooks remain optimistic, with Standard Chartered maintaining $5-$6 medium-term targets and crypto analysts forecasting $9-$15. Fundamental drivers include growing institutional adoption, potential ETF approvals, and Ripple's expanding payment integrations. However, regulatory uncertainty around legislation like the Clarity Act and cooling altcoin markets contribute to near-term volatility.