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XRP price hits $3.45 after breakout, technical signals show rally may extend

  • RSI has climbed to almost 85, flagging potential overbought conditions.
  • Volume has risen sharply, driven by retail trader participation.
  • Technical breakout from ascending triangle remains intact.

XRP has staged a powerful rally, climbing to $3.45 after months of subdued price action.

The Ripple-affiliated token, which had remained below $2.20 for a prolonged period, has now broken through key resistance levels with strong momentum.

XRP price
Source: CoinMarketCap

The recent price action has captured market attention, as technical indicators, surging volume, and a bullish structure continue to support further upside—though overbought signals are beginning to emerge.

XRP rally led by price breakout above key resistance levels

The sharp move came after XRP broke out of a textbook ascending triangle pattern earlier this month, clearing major resistance points with little pushback.

The rally accelerated after the token crossed $3.20, continuing its upward trajectory to the current $3.45 level. This breakout confirms a significant shift in market structure.

Technically, XRP’s moving averages remain aligned in a bullish formation, with the 50, 100, and 200-day exponential moving averages stacked in favour of continued upside.

This alignment acts as a support base for the token and could cushion any short-term pullbacks, provided sentiment remains strong.

However, the pace of the recent rally raises the possibility of increased volatility.

RSI climbs to almost 85

While price action remains positive, the relative strength index (RSI) has reached almost 85, indicating overbought territory.

Traditionally, such levels suggest that an asset may be overheated, though this alone does not imply an immediate reversal.

Assets in bullish phases can remain overbought for extended periods, especially during momentum-driven runs.

XRP appears to be following that pattern, with price strength fuelled by increased interest and speculative activity.

Nevertheless, traders may remain cautious as indicators begin to flash early warnings of potential exhaustion.

Trading volume spikes as retail interest surges

XRP’s recent gains have been accompanied by a notable increase in trading volume, suggesting broad market participation.

The rally is not solely driven by large holders, as retail traders have stepped in with renewed enthusiasm.

This wider involvement adds weight to the price action and distinguishes it from earlier, less sustainable breakouts.

The current momentum appears supported by fear of missing out, but sustaining it will require continued inflows and market confidence.

XRP eyes $3.60 as next upside target

With the token now trading at $3.45, market participants are watching the $3.60 mark as the next key level.

This aligns with Fibonacci extension levels and round-number resistance.

If volume and sentiment remain strong, XRP could continue its upward push toward this zone.

The technical setup still appears constructive, with the breakout pattern intact and moving averages acting as support.

However, the rapid ascent means that XRP remains vulnerable to any sudden shifts in sentiment or broader market pullbacks.

A retracement could occur if traders begin booking profits at current levels.

The post XRP price hits $3.45 after breakout, technical signals show rally may extend appeared first on CoinJournal.

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Cardano looking to overtake Tron after rallying 10% today

Key takeaways

  • ADA is approaching $0.9 after rallying by over 10% in the last 24 hours.
  • The coin could soon overtake Tron’s TRX to become the 9th-largest crypto by market cap.

ADA rallies higher as altcoins dominate

Bitcoin rallied to a new all-time high of $123k on Monday, but altcoins have taken over the show since then. Memecoins such as Dogecoin, Shiba Inu, Floki, Fartcoin, SPX, TRUMP, and Bonk led the way for most of the week, with most of them up double digits in percentages during that period.

The week is coming to an end with the leading altcoins making a strong statement. Ether, the second-largest cryptocurrency by market cap and the leading altcoin, added nearly 9% to its value in the last 24 hours to hit the $3,600 mark.

Cardano’s ADA is the best performer among the top 10 cryptocurrencies by market cap, adding nearly 14% to its value earlier today. The coin was approaching the $0.90 mark before retracing to now trade around $0.85 per coin. 

The positive performance comes after the landmark passing of the GENIUS ACT in the United States, indicating the beginning of regulatory clarity for cryptocurrencies in the country. ADA could rally to the $1 level soon as the bullish sentiment grows stronger in the market.

Furthermore, ADA Open Interest surpassed $1.4 billion on Thursday, reflecting the upbeat sentiment among derivative traders. ADA’s Open Interest is now approaching the $1.5 billion high set in January 2025. The technical outlook suggests a boost in bullish bias that could potentially drive ADA’s price to $1

ADA eyes $1 as bullish momentum grows stronger

The ADA/USD 4-hour chart is bullish and efficient, indicating that the buyers are firmly in control of the market. The coin has surpassed the 0% Fibonacci retracement level at $0.8233, drawn from the December 3 high of $1.3264 to the April 7 low of $0.5110. 

If the bullish momentum persists, ADA could rally towards the 61.8% Fibonacci level at $0.9214 in the coming hours or days. An extended rally would see ADA reclaim the $1 psychological level.

ADA/USD 4H Chart

The RSI of 72 shows that ADA is in the bullish zone, while the MACD lines are also positive, suggesting a strong buying pressure. 

However, failure to build upon this momentum could see ADA retest the 50% FIB level at $0.8233. In the event of an extended bearish run, ADA could retest the weekend’s low of $0.6880.

The post Cardano looking to overtake Tron after rallying 10% today appeared first on CoinJournal.

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FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims

  • Backpack has unveiled a fee-free platform for FTX victims to sell their claims.
  • The platform generated excitement as it pledged zero profits from the process.
  • FTT coin gained more than 7% amid the developments.

FTT joined today’s broad-based altcoin rallies with a significant surge.

While the altcoin narrative boosted the alt’s sentiments, the latest announcement from Backpack exchange added to the bullish momentum.

Backpack has launched a non-profit platform to help victims of the collapsed FTX exchange liquidate their bankruptcy claims.

The announcement triggered excitement, especially for creditors who have been in limbo for over two years, wondering whether they would ever recover their lost funds.

The Backpack team said:

We deeply understand the pain of being former FTX users. To assist other users who still hold FTX claims, we are launching a non-profit, completely neutral claims sale channel starting today, helping FTX global claim holders connect with third-party buyers willing to purchase FTX claims.

Notably, Backpack was among the platforms that suffered massive financial losses following FTX’s late 2022 debacle.

It lost assets worth approximately $14.5 million as Sam Bankman-Fried’s empire crumbled.

Most importantly, Backpack is not after recognition or financial gains.

It has emphasized that this is a community-centric, zero-profit program introduced to link claimants with legitimate buyers in a secure environment.

The initiative enhanced sentiments among FTT holders, reflected by the surged prices.

A transparent and straightforward process

Backpack’s new offering adopts user-friendliness.

Individuals only need to visit the exchange’s platform and complete basic ID checks.

This is to adhere to regulatory policies.

After eligibility verification, qualified users will receive offers from legitimate buyers and enjoy a secure and frictionless process to liquidate their assets.

Remember, Backpack will not take commissions or charge fees throughout this process.

FTT rallies in response

While it remains a controversial token, as it lacked utility following FTX’s debacle, FTT remains a proxy for sentiments around the exchange’s bankruptcy efforts.

It has always reacted to developments associated with the creditor reimbursement process.

The digital coin gained from a daily low of $0.8779 to $0.9408 intraday peak.

That’s a 7% increase, and the recovering 24-hour trading volumes signal a potential trend shift to the buyer side.

Technical indicators on the daily timeframe support the upside trajectory.

The Moving Average Convergence Divergence displays bullish momentum with green histograms while above the signal line.

The Relative Strength Index at 63 signals more room for upswings before FTT reaches the overbought area.

Meanwhile, FTT’s future depends on the claimants’ decision. Relentless dumps would mean massive selling pressure for the native token.

Backpack has urged users to avoid selling with a disclaimer:

Selling claims is a voluntary action and involves opportunity costs. If you choose to continue holding your claims, you may receive higher compensation in the future. Please make a careful decision based on your own judgment.

On the other hand, bulls dominate the cryptocurrency sector as bullish sentiments prevail. Bitcoin hovers at $120,140.

A daily candlestick closing above $121,000 could trigger continued gains to free all-time highs at $132,000.

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SOL gains momentum as Circle’s USDC mints on Solana surpass $3B in July

  • The stablecoin issuer has minted $500M USDC on Solana today.
  • It has minted $1B stablecoins in the previous week, bringing its July total past $3 billion.
  • SOL trades at a key level, targeting the $200 mark.

Solana is in the spotlight as altcoins rally with Bitcoin above the $120,000 zone after the US Congress passed the groundbreaking crypto bills.

Amidst the rallies, stablecoin issuer Circle has minted $500 million USDC on the Solana blockchain today.

The new injection has pushed the firm’s weekly mint to $1 billion USDCs, indicating intensified stablecoin activities on the SOL network.

Furthermore, Circle has minted USDC worth over $3 billion on the Solana blockchain since the start of July.

That’s among the most aggressive stablecoin expansions the crypto platform has witnessed in 2025.

These developments underscore institutional trust in Solana’s infrastructure and future potential.

Meanwhile, the optimism is already reflected in SOL’s price action.

The native token hovers at a key level of $180, targeting swift rallies toward the sought-after $200.

Why increased stablecoin activities matter

Circles move to mine USDC worth billions of dollars on Solana is beyond a mere blockchain activity.

The move signals confidence in the network’s cost-friendly model and scalability.

While Ethereum still grapples with high gas fees and congestion, Solana offers ultra-low fees and near-instant transaction completion.

That makes it perfect for handling massive volumes of stablecoin transfers.

The USDC minting spree signals growing institutional trust in Solana’s capabilities.

To investors, traders, and developers, the development signals a growing ecosystem ripe to support stablecoin-centric growth.

It is no surprise that native SOL displays bullishness amidst USDC surges.

Liquidity plays a crucial role in blockchain’s overall health, and stablecoins ensure smooth undertakings, from interacting with DEXs to lending protocols.

More USDCs joining the network will enrich Solana’s throughput and demand, which in turn leads to price growth.

Also, the move reflects Circle’s expansion goals.

The company requires a blockchain that can handle massive real-world volumes as it braces for its IPO (initial public offering).

Will Solana’s battle-tested, cheap, and fast capabilities make it a perfect partner?

Solana price outlook

SOL trades at $180 after gaining more than 6% in the past 24 hours.

The current price places it at a key level.

A closing above $180 will likely catalyze smooth gains toward the psychological mark at $200.

Technical indicators support Solana’s upside stance.

The 1D Moving Average Convergence sways above the signal line, suggesting buyer control.

Also, the Chaikin Money Flow has remained elevated since July 14.

That confirms increased cash entering the SOL ecosystem as investors expect imminent rallies.

Bulls target the $188 zone, beyond which Solana can rally frictionlessly to $200.

Solana enthusiasts @splsamurai posted a chart highlighting SOL’s potential gains.

Continued broad market surges will support Solana’s stability above $180 to validate the bullish trajectory.

Altcoins display bullish strength as Bitcoin’s dominance dwindled after BTC’s rally to all-time highs last week.

Solana remains poised among the top alts to watch in the prevailing bull runs.

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US House passes three key crypto bills; market reaction muted as Bitcoin dips

  • US House passed all three key crypto bills: the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act.
  • Despite the “historic” legislative wins, crypto markets remained flat, with Bitcoin down 0.89% to $118,849.
  • The GENIUS Act (stablecoins) is the first major crypto bill to clear both chambers and is now on President Trump’s desk.

The US House of Representatives has delivered a week of landmark legislative victories for the cryptocurrency industry, passing all three key bills aimed at providing long-sought regulatory clarity.

However, in a striking display of market apathy, this historic breakthrough in Washington has been met with a collective shrug from crypto traders, with prices remaining largely flat.

In what many industry proponents are calling a watershed moment, the US House has now passed the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act.

The CLARITY Act, which passed by a strong vote of 294 to 134, aims to establish clear guidelines for classifying digital assets as either securities under the purview of the Securities and Exchange Commission (SEC) or as commodities under the Commodity Futures Trading Commission (CFTC).

The Anti-CBDC Surveillance State Act, which passed by a much narrower 219 to 217 vote, effectively bans the Federal Reserve from issuing or even testing a central bank digital currency without explicit Congressional approval. Both of these bills will now advance to the Senate, where their future remains uncertain.

The most significant of the three, the GENIUS Act, which creates a regulatory framework for stablecoins, has already cleared both chambers of Congress. Having previously passed the Senate with a 68 to 30 vote, it sailed through the House this week with a decisive 308 to 122 vote.

This bill is now on President Trump’s desk, making it the first major piece of crypto-focused legislation on track to become US law.

Despite these monumental legislative achievements, the crypto markets have remained conspicuously unfazed. Bitcoin (BTC) is currently trading at $118,849, down 0.89% over the past 24 hours. Ethereum (ETH) is hovering at $3,389, down 0.27%.

The broader altcoin market has also been mostly muted. The one notable exception is XRP, which is up over 8% on the day, continuing a strong bullish run it has maintained throughout the week.

The market’s tepid reaction is further evidenced by liquidation data. According to Coinglass, 150,169 traders were liquidated in the past 24 hours, with total liquidations reaching nearly $490 million.

The largest single liquidation was a $3.21 million ETH-USDT long position on the crypto exchange HTX, a sign of the choppy, directionless trading that has characterized the market.

A tale of two markets: crypto stalls as Wall Street soars

The crypto market’s indifference stands in stark contrast to the exuberance seen in traditional stock markets.

Major US indexes surged to fresh record highs on Friday, as upbeat corporate earnings and stronger-than-expected economic data lifted investor sentiment.

The S&P 500 jumped 0.54% to a new record close of 6,297.36, marking its ninth all-time closing high of the year. The tech-heavy Nasdaq Composite also hit its tenth record of 2025, climbing 0.74% to finish at 20,884.27, driven by strength in major tech stocks.

The Dow Jones Industrial Average rose 229.71 points, or 0.52%, to close at 44,484.49.

This rally in equities was supported by strong economic data, including a retail sales report for June that came in at 0.6%, beating expectations of 0.2%, and a drop in jobless claims, both signaling a still-resilient US economy.

Strong earnings reports from companies like PepsiCo and United Airlines further boosted optimism as the second-quarter earnings season gets underway.

This divergence highlights a curious moment in markets, where a significant, long-awaited regulatory victory for crypto has failed to generate the kind of bullish excitement currently being seen on Wall Street.

The post US House passes three key crypto bills; market reaction muted as Bitcoin dips appeared first on CoinJournal.