XRP price action on Thursday, July 23, 2026, focuses on the token’s attempt to sustain a breakout from a multi-year technical pattern. This move has drawn attention from traders and analysts as XRP tests critical support and resistance levels while market activity shifts.
Spot Price and Volume Movements
XRP is currently priced at $1.13, marking a daily decline of 0.13%. Trading volume has fallen sharply by 31.53% in the last 24 hours and now stands at $960.43 million. Despite the daily decrease, the token has climbed 2.54% over the past seven days, based on CoinMarketCap data.
Technical analyst Egrag Crypto, a figure widely followed for his insights on digital asset chart patterns, observed that XRP has confirmed a breakout from a symmetrical triangle that has shaped its price for years. As the asset moves to retest this breakout, the $0.85–$0.88 range has been identified as a significant support zone. Egrag views this action as a broader macro-level test.
XRP’s retest of the $0.85–$0.88 range reflects the lower boundary of its triangle structure. Sustained monthly closes below this level would challenge the bullish case, but occasional dips under the range would not be immediately bearish.
The support range represents the intersection of the triangle’s base and an area identified as the White Bridge pattern. Analysts consider a monthly close below this range to reduce bullish momentum, emphasizing the need for price stability above it.
Price Targets and Technical Outlook
Egrag has outlined a step-by-step price roadmap for XRP. The sequence starts with the current support range between $0.85 and $0.88. Above, potential resistance emerges at $1.23 and $1.65. If these levels are surpassed, price targets in the $3.00 to $3.50 zone become relevant, potentially paving the way for further gains.
Egrag’s longer-term measured move points to $6.40 as the initial major upside target, with a stretch forecast of $30 as the macro projection. However, these figures are not set as imminent targets and would require XRP to hold above prior resistance levels.
From a moving average perspective, the 20-day exponential moving average (EMA) is at $1.11130, placing the spot price slightly above short-term support. The 50-day EMA is higher at $1.14479, acting as immediate resistance. The 100-day EMA is at $1.23336, while the 200-day EMA sits at $1.43438, with XRP trading below both longer-term averages.
| Indicator | Value | Price Position |
|---|---|---|
| 20-day EMA | $1.11130 | XRP slightly above |
| 50-day EMA | $1.14479 | XRP just below |
| 100-day EMA | $1.23336 | XRP below |
| 200-day EMA | $1.43438 | XRP below |
Bollinger Bands, a tool for assessing market volatility, set the middle band at $1.11091, with the upper band at $1.16209 and lower band at $1.05974. With XRP positioned between the middle and upper bands, resistance could emerge near $1.16209 if volatility rises.
Derivatives market data from CoinGlass shows that futures volume dropped 25.51% to $1.74 billion, alongside a 1.42% decrease in open interest, which currently stands at $2.50 billion.
The funding rate for open interest-weighted positions is at 0.0041%. This positive number suggests that long traders are making payments to those with short positions, reflecting a leaning toward bullish bets among derivatives participants.
Liquidations over the past 24 hours reached $1.13 million, divided nearly evenly between long positions ($570,500) and short positions ($557,610), showing limited directional conviction. The total difference came to just $12,890.
Mini dictionary: Bollinger Bands are a technical analysis indicator that plots volatility bands above and below a moving average, helping traders identify potential overbought or oversold conditions.
