XRP Price May Hit $27 If It Clears $2.35 Short Wall, Analysts

Key Insights:

• XRP price targets $22–$27 if BTC pair closes above key confirmation zone in July.
• 491B in short liquidations cluster at $2.35, setting up potential short squeeze.
• XRP price formed a triple bottom and inverse H&S, confirming a breakout above $2.2293.

XRP price showed renewed bullish momentum after reclaiming its short-term trend structure and forming a base near $2.18. Analysts noted that a significant liquidity barrier remains at $2.35, with over 491 billion XRP tied to short liquidations. If this zone is breached, technical projections suggest a breakout rally that could push XRP price toward the $22–$27 range over the coming months.

XRP Price Targets $22–$27 If BTC Pair Breakout Confirms

The latest analysis from EGRAG Crypto highlighted the XRP/BTC trading pair’s breakout from a long-term falling wedge. More so, the move signaled a potential macro shift. EGRAG attached the area of confirmation to the 0.00002982 to 0.00005274 BTC range in the previous weeks.

As of early July, XRP/BTC approached this zone again, with a close above likely validating a Wave 3 Elliott structure.

EGRAG reassessed the confirmation targets with projected trades of Bitcoin ranging between $28,000 and $48,000 using the projected USD figures. Based on this logic, XRP price could reach between $7.50 and $13 if Wave 3 plays out. The upper wave target of 0.00027101 BTC would then project XRP price as high as $22 to $27.

This price range was initially proposed on a 2022 projection, but the proposal has already been reaffirmed using the latest updated technical confluence. The recent rally pattern, including volume recovery and structure breakout, further strengthened the analyst’s conviction in the set-up.

Huge Short Selling Pool at $2.35 Could Cause Rally

The recent trend requires the price action to determine the short-term dynamics near $2.35, although the macro outlook indicates the possible cycle high of $27. Steph Is Crypto showed a heavy concentration of short positions around this area. According to Coinglass data, over 491 billion XRP worth of short liquidations sit just above the $2.30 mark.

Moreover, this short-heavy liquidity wall built up during XRP’s recent price compression. Traders opened aggressive shorts while XRP hovered between $2.10 and $2.20. These shorts may rapidly unwind in case of a price break above $2.35 and prompt buy-backs, which would further accelerate the rally.

Liquidation heatmaps showed concentrated leverage directly above $2.30. Historically, such clusters have acted as volatility triggers. If bulls sustain momentum, Ripple token could break through $2.35 and climb toward the $2.70–$3.00 zone in the short term.

Triple Bottom and Inverse H&S Pattern Confirmed

BitGuru added a shorter-term pattern analysis to the bullish story. XRP price formed a triple bottom near $2.07 and then built an inverse head and shoulders. The neckline, located at $2.22, was broken late last week as XRP price surged toward $2.32 before pulling back.

The pattern confirmation implied a bullish continuation toward $2.70. BitGuru noted that the current correction to the price of $2.1854 was anticipated. It mirrored a market typicality of broken resistance turning into support.

Additionally, these formations, coupled with macro confirmation zones and breakout structure, usually signal the start of sustainable rallies. According to BitGuru, the chart had printed the clean multi-pattern breakout since early 2023.

If XRP price holds above $2.20 and reclaims the neckline on increasing volume, the next leg toward $2.60 may develop rapidly. Momentum oscillators remained in neutral zones, offering upside room.

XRP Price Holds Key Levels Ahead of July Confirmation

Meanwhile, at the time of writing, XRP price traded around $2.19 after consolidating recent gains. The Ripple token trend was still the same, as there was still support at almost $2.18 and resistance at $2.35. Also, the divergence of the several bullish patterns corresponded to the revival of the volume and high-level indicators of liquidity.

If the XRP/BTC pair closes in July above the marked confirmation zone, the bullish Elliott Wave count will remain valid. This would favour the increased estimates up to $13-27 based on the performance of BTC. However, analysts emphasized that XRP price must sustain momentum above $2.35 before larger moves can materialize.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.