The XRP price is currently trading at $2.90, reflecting a 5% gain for the day and an impressive 28% increase over the past week. Since the recent ceasefire agreement between Israel and Iran, a total of nearly 50% of gains have been harnessed by XRP.

This rally aligns with Bitcoin’s remarkable ascent, which recently reached new all-time highs around $121,000. In a significant turn of events, XRP has made headlines by overtaking Tether’s USDT, claiming the third spot in the crypto rankings. As of now, XRP crypto’s market capitalization stands at $172.79 billion, surpassing USDT’s $159.55 billion.

According to Santiment, XRP’s fundamentals are also gaining strength. They reported a record number of wallets holding over one million XRP have surged, showcasing robust accumulation trend among investors.

Experts are increasingly recognizing Ripple’s utility as unparalleled, suggesting it is the future of fast and cost-effective transaction settlements. This shift is evident as banks are becoming less reliant on SWIFT for their transaction needs, and Ripple Labs forecasts that XRP could even capture nearly 20% of SWIFT’s transaction volume, nearly $30 trillion.

XRP Price To Hit $5 In July?

In a recent post, an analyst highlighted that the XRP price is exhibiting such bullish momentum that it seems poised to break through the red resistance zone effortlessly. 

The expert predict a retest soon towards the previous all-time high at $3.40 is imminent, with price discovery on the horizon. 

Moreover, the chart suggests that, with strong trading volume, and positive indicators, the XRP price continues to stand out as one of the leading tokens in the market. 

If broader market conditions favor a rise in Bitcoin and Ethereum surpassing their former highs, an extended rally could even propel XRP price toward $5 before the end of July.

On the downside, a retracement to the $2.55 – $2.60 range is possible, with technical warning signs like RSI is overheated and CMF saw a decline. If retracement occurs, it would present a potential buying opportunity for investors looking to add to their positions.