Analyst Says A Major XRP Price Breakout Will Happen In July. Here’s the Signal

XRP may be approaching a decisive moment after months of consolidation. Crypto analyst Crypto Michael (@MichaelXBT) believes the asset is close to completing a final test of support before breaking out of a year-long falling wedge pattern.

While holding an XRP position opened last week and a Bitcoin short from $75,000, the analyst says the greater concern is missing the move that could follow.

“XRP will break out of this year-long wedge in July after a final tap of support,” Crypto Michael wrote alongside a weekly XRP chart. He added that he is comfortable holding through short-term volatility while waiting for the setup to develop.

Holding my XRP buy from last week and my Bitcoin short from 75k.

XRP will break out of this year-long wedge in July after a final tap of support.

I don’t mind holding in a temporary loss while my Bitcoin short prints.

The real risk is being sidelined when it breaks out.

— Crypto Michael (@MichaelXBT) June 24, 2026

XRP Approaches Key Wedge Support

The chart shows XRP trading inside a large falling wedge that has contained price action since the asset peaked at $3.65 in mid-2025. The upper trendline slopes downward from that high, while the lower trendline comes from support established around late 2024.

XRP now sits near the point where the two trendlines converge. Recent price action has carried the asset back toward the lower boundary of the pattern near $1.05. Crypto Michael’s projection suggests one more interaction with support before a breakout attempt begins in July.

The Resistance Zone

The chart also highlights a major resistance zone between roughly $1.90 and $2.15. XRP traded above that area for several months before losing momentum and dipping below it in late 2025. The asset’s extended losing streak may soon end as it now sits around the apex of the wedge, preparing for a breakout.

A successful breakout from the falling wedge would place that region among the first major targets for bulls. Falling wedges often signal weakening selling pressure as price compresses into a narrowing range. In this case, the pattern has developed over approximately a year, making any eventual breakout particularly significant for traders watching the long-term trend.

The Potential for a Major XRP Rally

The bullish outlook gained additional attention when a community member asked Crypto Michael what type of breakout he expects. He revealed that he expects a major move, stating, “It should be the largest breakout since the 7-year pennant breakout I called in 2024.”

That 2024 breakout led to a rally of more than 500%. Applying a similar gain to XRP’s current price near $1.05 would place the asset above $6.30. While market conditions differ from those seen in 2024, the comparison shows the scale of move the analyst believes could develop if history repeats.