The $3.03 mark could shape a new cycle for XRP – Will history repeat itself?

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XRP will "rise to the sky" and enter a price discovery phase if it closes the month with a record closing price today, Thursday, July 31, according to a market analyst.

Specifically, in the latest analysis on X, trader Egrag Crypto stated that 3.03 USD is currently the key price threshold to closely monitor for XRP.

XRP price needs to close the monthly candle above 3.03 USD

According to data from Bitcoin Magazine, the XRP/USD pair has risen to the sky by nearly 2% on Thursday, approaching the monthly peak. To confirm the highest monthly closing price in history, XRP needs to end July above the 3.03 USD mark – something that has not happened since January 2025.

The XRP/USD pair has previously failed in cycles before attempting to close above this critical price level. However, if successful this time, XRP may enter a price discovery phase, opening up opportunities to conquer new heights. Trader Egrag Crypto commented:

"Closing above the mark of 3.03 USD will mark the first time XRP has a historic monthly candle surpassing this threshold throughout its development journey... Touching 'The Chasm' is my minimum target – but what if we go beyond? That's when the real party begins!"

XRP/USD price chart by month | Source: Egrag Crypto## What is "The Chasm"?

"The Chasm" is a key resistance line connecting previous cycle peaks. Each cycle of XRP typically begins when the 21-month EMA crosses above the 33-month SMA – an important macro signal for a long-term positive trend.

In the past, each time touching "The Chasm" has opened up impressive parabolic price increases. If it touches "The Chasm", XRP's initial target could reach 11 USD; and if it successfully surpasses this price, this altcoin could continue to conquer the milestone of 37 USD, repeating historical growth patterns.

"XRP will rise to the sky today until the monthly candle closes," said Crypto investor Bitlord, while emphasizing that if this happens, the price could immediately reach the 7 USD mark.

In addition, the analyst Cryptollica noted that XRP breaking the downtrend price pattern on the two-week chart indicates that the next price target will be at the 10 USD mark.

Some experts believe that XRP may continue to enter a consolidation phase, reflecting typical price behavior after a rise to the sky. Conversely, others warn that selling pressure may still persist, as high profit-taking levels are recorded.

XRP aims for the sixth consecutive "green July"

Meanwhile, data from CryptoRank shows that XRP is on track to complete its 6th consecutive "green July."

If the increase of 42% can be maintained, July 2025 will become the third highest performing July in the history of XRP.

Monthly profit chart of XRP/USD | Source: CryptoRankJustin

XRP-4.32%
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