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If $XRP manages to stay above $2.34, a rally toward $6 is possible, says Arthur Azizov of B2 Ventures.
$XRP has been trading within its current range since December. However, the token may be positioning for a major rally. On Wednesday, July 9, it reached a monthly high of $2.40 and managed to sustain its momentum even after a brief correction, trading at $2.37.
Arthur Azizov, founder and investor at B2 Ventures, believes that if $XRP holds a key support level, it could push to new highs, potentially even record territory. The first major resistance, he noted, lies at $2.65.
“$XRP is currently trading near a key level. If the price manages to hold above $2.34 and stays above this mark, it is likely to move towards a new high around $2.65,” Arthur Azizov, B2 Ventures.
Currently, $XRP traders are accumulating tokens, but the price has remained relatively stable. Azizov attributes this to $XRP’s tendency to move independently of broader market dynamics. Despite that, the overall outlook for the token is bullish.
“Since $XRP has been in accumulation for quite a long time, the outlook remains positive. Most likely, the breakout will be to the upside, with targets in the $4–6 range,” Arthur Azizov, B2 Ventures.
$XRP crypto fundamentals remain strong: Azizov
A move above $3.84 would mark a new all-time high for $XRP, last reached in January 2018. Several fundamental factors may now support such a move.
For one, $XRP has expanded its partnerships with major institutions. Additionally, a growing number of $XRP-focused ETF applications have been filed in the U.S., signaling investor anticipation of increased demand.
Its largest ETF, the Teucrium 2x Long Daily $XRP, saw its biggest weekly inflows since launch, registering at $158 million in July.