- XRP’s $2.00 breakout marks new support after years of resistance, supported by stable price and bullish structure.
- Bollinger Band widening and reclaimed 20-day SMA at $2.1794 hint at incoming volatility and buyer strength.
- MVRV Z-Score near 29.3 suggests caution, as XRP approaches a historically overvalued level.
XRP has recorded its highest-ever quarterly close, a big move on its long-term price chart. The three-month candle, closing just above the $2.00 level, breaks a multi-year resistance zone that has held since the previous bull cycle.
This move comes after an extended accumulation phase, indicated by a large green candle in early 2024 that suggested renewed momentum. The breakout now establishes the $1.95–$2.00 range as a strong support zone for the asset.
If this level holds, XRP could maintain upward pressure in the coming sessions, supported by strong technical structure across multiple timeframes.
Sustained Price Strength Above Critical Support Levels
The breakout above the previous top has transitioned the $2.00 zone into a support base. Current price action remains stable above this level. At the time of writing, XRP was trading at $2.27 after bouncing from a daily low of $2.25.
Notably, the daily Bollinger Bands are beginning to widen, following a period of low volatility. This widening typically suggests increased price movement ahead. Resistance is near the upper Bollinger Band at $2.3092, while the lower band offers support at $2.0496.
The 20-day simple moving average, currently at $2.1794, has been reclaimed, suggesting buyers are gaining control.
Volume Behavior Shows Accumulation and Optimism
Volume is steady at 23.22 million, but has yet to spike as it did in previous rallies. January and April volume surges were tied to sharp price swings. The current quiet phase may reflect buyer accumulation or cautious optimism amid resistance levels.
According to Egrag Crypto, two key breakout levels remain important. A close above $2.35 would confirm bullish continuation, while a close above $2.42 would suggest stronger momentum. Both levels are yet to be tested in July.
MVRV Z-Score Indicates Caution as Valuation Climbs
XRP’s current MVRV Z-Score is near 29.3, a historically high range that often comes before local peaks. Scores between 38 and 58 have previously aligned with macro tops, although the current figure is slightly below that level.
Overall, XRP has broken long-term resistance with its highest quarterly close. Price now rests above crucial support, while indicators suggest possible volatility. Resistance at $2.31 and valuation levels remain key for short-term direction. It remains to be seen whether the price will hold current gains or retest lower bands.
