XRP has shown strong growth, reaching the $2.20 mark following the launch of the long-anticipated EVM sidechain, which enables smart contracts on the XRP Ledger.
Launch of the EVM Sidechain and Its Significance
The launch of the EVM sidechain has been one of the most anticipated updates in the XRP ecosystem. It bridges XRP with the Ethereum ecosystem, enhancing functionality for developers while drawing new capital and innovation to the network.
XRP Price Predictions for July
According to crypto analyst CasiTrades, XRP is currently following a bullish breakout structure. He notes that XRP is aiming for the $2.30 mark, with the next critical step being a pullback to $2.25. 'XRP needs to test $2.25 as new support. If it holds, we’re heading for the next leg higher,' Casi stated.
Technical Analysis of XRP
Casi also added that technical indicators remain strong, with the RSI showing no bearish divergence on lower timeframes. This suggests that the breakout was backed by genuine buying volume. 'Momentum is clean, no signs of weakness yet,' he added.
The recent rally of XRP could be the beginning of a significant macro breakout. With strong fundamentals and ecosystem upgrades, XRP appears to be gearing up for its next big move.
