XRP Ends July Consolidation... Could Reach $1.24

XRP has broken out of a multi-week consolidation phase, entering one of the strongest bullish breakout areas since early 2026. According to Blockchain media The Week, XRP broke below the descending resistance line after spending most of July in a narrowing triangle pattern. While daily gains of around 2% are notable, the key technical shift is the termination of the declining high pattern that had persisted since early June. Prices have now moved above the downtrend line and rising support zone, with the 50-day moving average line being a critical factor in this reversal. Volume surged during the breakout attempt, signaling a shift in market sentiment. Unlike previous rallies that fizzled near resistance, this move coincided with increased trading and investor participation. The next key watch area is the 100-day moving average around $1.12-$1.13, a historically significant barrier. A clear breakout above this range could strengthen the bullish scenario, with the next resistance level at the current 200-day moving average around $1.24. Momentum indicators show some improvement, with the RSI surpassing 55 after weeks of stagnation. However, the market cautions that this breakout doesn't guarantee immediate sharp gains, emphasizing the need to confirm XRP's ability to hold the $1.10 support zone. Short-term focus will remain on whether XRP can establish a new price range, which could position this move as one of the strongest recoveries of the year.