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XRP Price- XRP Bull Trap or Breakout Setup?
XRP Price– Crypto analyst Van Code recently shared his bullish outlook on XRP, driven by key technical signals and an important regulatory deadline approaching. Despite a recent price dip, XRP remains above critical moving averages, hinting that the current pullback could actually be a classic “bear trap” — a temporary drop designed to shake out weak holders before prices surge.
Bear Trap or Market Correction? XRP Holds the Line
Two weeks ago, XRP hit a yearly peak at $3.66 but retreated slightly, currently trading around $3.13. Van Code emphasizes this isn’t weakness but a setup for a sharp rebound, possibly as soon as next week or the following. While he usually advises caution with long-term technical predictions, the short-term chart points to renewed buying interest amid minimal market news.
Major U.S. Government Report Could Trigger Breakout
Adding fuel to the rally, a significant U.S. government report on digital assets is set to release on July 30. Bo Hines, a top advisor on digital assets, confirmed this report, which many believe could accelerate Ripple’s legal settlement with the SEC. Large investors might be quietly accumulating XRP ahead of this milestone, keeping prices artificially suppressed to buy more cheaply.
Why Van Code Is Confident in XRP’s Near-Term Future
Van Code highlights that Ripple has already placed its $125 million fine in escrow, which will only be released when both parties drop their appeals. The SEC must update the court by August 15, making a settlement likely soon. Furthermore, Ripple has over 1,700 NDAs with banks and firms, signaling strong institutional interest waiting for legal clarity to launch XRP-based partnerships.
New ETF filings could also be on the horizon, potentially bringing major institutional players into the fold. As regulatory clouds lift, Van Code sees XRP poised for a powerful run higher in the coming weeks — making now a critical time to watch this crypto closely.
