XRP Sets New Record, But $3.12 Trial Still Open, What’s the Price Outlook?

Jakarta, Pintu News – After years of trading below its previous record high in 2018, Ripple (XRP) finally broke through the $3.40 barrier to reach a new record of $3.65 on Friday, July 18. The rise marks the culmination of a rally that has seen the cryptocurrency rise by 68% since the beginning of July.

Analysis Points to $3.12 as Test Zone

In a new post on social media platform X, leading crypto analyst Egrag Crypto warned that Ripple (XRP) may experience a test run back to the $3.12 level.

The analyst referred to the 0.888 Fibonacci level, currently at $3.1279, as a logical support zone should Ripple (XRP) experience a retracement from its current price zone. According to the technical chart, Ripple (XRP) is currently consolidating in a descending channel on the 4-hour candlestick chart since peaking at $3.65. However, the currency is still trading above $3.40, which is a bullish sign.

Also Read: XRP Price Surges Again: Momentum Rising, Eyeing Key Resistance

Bullish Momentum Still Intact

While some investors may see the drop to $3.12 as a setback, Egrag believes that the results could actually be bullish in the bigger picture. “If we see a trial here, it could set us up for another launch,” he explains. However, avoiding a test run entirely would be a clearer indication that the bulls are stronger than expected. A clean hold above $3.40 in the coming days would indicate bullish dominance, especially if Ripple (XRP) breaks out of the yellow descending channel displayed on the Egrag chart.

Entry Opportunity for New Investors

On the other hand, a controlled visit to the $3.12 zone could offer a better entry point for new investors and prepare Ripple (XRP) for the next leg up towards the $4.16 price target highlighted in the analysis. At the time of writing, Ripple (XRP) is trading at $3.49.

Conclusion

By reaching a new record and the potential retracement that may occur, Ripple (XRP) shows strong market dynamics and attractive investment opportunities. Investors and market watchers will keep a close eye on these price movements to capture opportunities that may arise from market fluctuations.

Also Read: $2 Billion Fresh Money Injection, Bitcoin Ready to Fly Again? Analyst: Big Crypto Rally Signals!

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Reference

• NewsBTC. XRP Hits New ATH But $3.12 Retest Still in Play. Accessed on July 21, 2025