- XRP is targeting its unfilled CME gap between $114,440 and $115,555 after falling below the 21 EMA on the 12-hour chart.
- BTC’s correction to $114,410 could lead to a 10–15% drop across altcoins, increasing XRP’s downside risk near-term.
- Despite the price pullback, XRP’s on-chain growth surged 175%, suggesting continued user engagement and network strength.
XRP may soon revisit its CME gap zone between $114,440 and $115,555, as new price action points to increased downside pressure. On the 12-hour timeframe, XRP has slipped below the 21 EMA, a level that often leads to further wicks to the downside.
As per Egrag Crypto, the gap can be filled over the weekend or in the early part of next week. The current pullback follows a period of significant volatility and comes amid growing speculation around timing for this technical development.
Price Drops Below 21 EMA as Gap Filling Nears
On the latest 12-hour trend, XRP’s price dropped below the 21 EMA, setting up conditions for a possible short-term dip. The CME gap, still unfilled between $114,440 and $115,555, has emerged as the main price target in the coming sessions.
According to Egrag, recent candles have closed below a dynamic moving average, with a yellow line marking a key resistance area. A projected arrow suggests a -3.70% pullback toward the lower support of $114,410.
That level, formed during a previous price rally, now stands as the focal point for short-term traders. The previous consolidation area near $115,575, marked by a yellow dotted line, may serve as temporary support if the decline continues.
BTC Movement Raises Pressure on Altcoins
BTC has also started correcting, with a dip from $119,880 to $116,130, currently showing a -2.70% drop. The same CME gap zone as XRP applies to BTC, and the projected decline of 3-4% could increase selling pressure on altcoins.
Based on projections, this movement may lead to an additional 10-15% correction across alternative coins. If BTC completes the dip to $114,410, XRP’s own key level at $2.65 could be tested.
This aligns with expectations previously set for August but appears to be unfolding earlier than projected. Both assets now are within a critical short-term window, where price reaction near the gap could determine their next steps.
XRP’s Network Growth is Strong Despite Pullback
While the price undergoes correction, XRP’s on-chain network activity has stayed elevated. According to Santiment, new addresses surged over 175% from June to July, reaching a peak above 11,000. That growth coincided with XRP’s price rally from late June lows to its recent $3.684 high.
However, the price has now corrected to around $3.109, raising questions about near-term strength. If the address count remains above 8,000, the network activity may help limit further downside. XRP’s performance against BTC also showed improvement in early July, reversing a long period of relative weakness since the year began.
Final Outlook
XRP is now approaching its unfilled CME gap as momentum weakens across major assets. The drop below the 21 EMA, combined with BTC’s broader pullback, has created pressure in the short term.
However, XRP’s rising network activity and previously strong rally suggest the asset is under close monitoring. Whether price stabilizes at support or breaks lower will depend on the next reaction near $114,410.
