- Ripple ends 7-day rally, slipping from multi-month high as crypto market cools before U.S. inflation data.
- Optimism over Fedwire’s ISO 20022 upgrade, potential XRP ETF launch, and SEC dropping Ripple appeal boosts XRP/USD bulls.
- Positive bias during “crypto week”, growing crypto adoption also support XRP/USD, despite mixed sentiment.
- July could be pivotal for XRP, especially if it breaks above the key $3.03 resistance.
Ripple (XRP/US Dollar) price registers its first daily loss in eight, falling 3.6% to $2.85 during Tuesday’s European session. This breaks the seven-day winning streak and follows a failed attempt to surpass the March peak of $3.03, forming a “Double Tops” chart pattern.
Even so, optimism remains strong among the XRP bulls due to the U.S. Federal Reserve’s (Fed) pivotal upgrade to its payment system, the planned launch of multiple XRP Exchange-Traded Funds (ETFs), and the U.S. Securities and Exchange Commission’s (SEC) potential decision to drop its appeal against Ripple. These factors continue to fuel buyer sentiment, especially with “Crypto Week” creating hopes for favorable industry legislation from the U.S.
Fed’s ISO 20022 Upgrade and Ripple’s Integration
The U.S. Federal Reserve is transitioning Fedwire to ISO 20022, a significant upgrade to its payment system, which began on July 14. While this isn’t directly related to XRP, Ripple’s alignment with ISO 20022 since 2020 offers a key opportunity for XRP investors.
Ripple’s partnerships with Volante Technologies, a key player in the Fedwire ecosystem, are adding to the optimism. Volante has confirmed its platform will support XRP settlements via RippleNet, enabling institutions using Volante’s Fedwire-as-a-Service to settle transactions with XRP.
Ripple is also strengthening its position with efforts to secure a national banking license through its subsidiary, Standard Custody, and by seeking access to the Federal Reserve Master Account to hold reserves for its NYDFS-approved RLUSD stablecoin. Additionally, Ripple’s acquisition of Hidden Road, now offering OTC swaps for U.S. institutions, hints at its evolution into a full-stack institutional liquidity provider.
XRP ETF Optimism
Beyond banking developments, the growing expectations around XRP Exchange-Traded Funds (ETFs) are also fueling a bullish outlook for Ripple’s price.
On July 14, ProShares announced the launch of three XRP futures ETFs—Ultra XRP, UltraShort XRP, and Short XRP—giving both bullish and bearish investors a leveraged way to trade Ripple. Following that, Volatility Shares and Tuttle Capital are set to launch 2X leveraged XRP ETFs on July 21, designed to amplify daily returns for active traders.
Above all, the key data will be July 25, when the U.S. SEC will rule on the REX-Osprey Spot XRP ETF. With Ripple’s recent legal victories and increasing pressure on the SEC, analysts believe approval is becoming more likely.
Hopes of U.S. SEC Dropping Ripple Appeal on July 17
As the U.S. lawmakers work on shaping crypto laws, all eyes are on the U.S. Securities and Exchange Commission (SEC), where Chair Gary Gensler and the Commissioners are set to vote on whether to drop their appeal in the ongoing Ripple case. The SEC’s next private meeting is scheduled for July 17. If the SEC decides to end its challenge to the Programmatic Sales ruling, it could bring an official close to the case, clearing the path for the launch of a U.S. XRP spot ETF market.
On-Chain Signals and Other Positives
On-chain data from Santiment shows bullish signs for Ripple (XRP/USD), with whale activity rising. The number of wallets holding at least one million XRP hit a record 2,747, now at 2,745, controlling $47.3 billion in XRP. This reflects strong confidence from large investors.
Additionally, the Exchange Flow Balance turned negative, with more XRP withdrawn than deposited, suggesting investors are confident in XRP’s long-term value and moving it to cold storage, reducing selling pressure and supporting price growth.
The potential passage of the GENIUS and CLARITY Acts, which could boost RLUSD adoption and ease SEC regulation, also adds to Ripple’s positive outlook as “Crypto Week” progresses.
Technical Analysis
Beyond strong fundamentals, XRP/USD’s technical setup continues to favor the bulls—even after pulling back from the $3.03 level. The recent breakout above a 4.5-month resistance zone, the 200-day Simple Moving Average (SMA), and a key horizontal cap from early March has strengthened the bullish case. A positive Moving Average Convergence Divergence (MACD) crossover also supports upside momentum. However, overbought signals from the Relative Strength Index (RSI) could slow gains in the short term.
XRP/USD: Daily Chart Boosts Bullish Bias
XRP/USD faces pressure from a ‘Double Tops’ pattern near $3.03—formed since March—alongside an overbought RSI, pushing the price toward the former resistance zone of $2.67–$2.65, now acting as immediate support. Below that, the 200-day SMA at $2.38 and a key support zone near $2.31, comprising previous resistance line from January, could test bearish momentum.
For the Ripple bulls to regain control, a decisive break above the $3.03 ceiling is needed, which could open the path toward the January record high near $3.40, and potentially the $4.00 psychological level.
Conclusion
Despite a short-term pullback, Ripple (XRP/USD) remains in a strong position, supported by a wave of bullish fundamentals—from ISO 20022 alignment and institutional partnerships to ETF optimism and potential regulatory breakthroughs. On-chain data shows growing whale confidence, while technicals hint at continued upside if XRP breaks above the $3.03 resistance. With key events lined up—including the SEC’s July 17 decision and ETF rulings later this month—XRP could be on the verge of a major breakout toward $3.40 and even $4.00. Traders should stay alert; the next move could be decisive.
