Ripple’s XRP maintains sideways movement near $2.90 following an impressive eight-day rally, with new California government partnerships potentially setting up the next breakout phase.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
Ripple XRP $2.93 24h volatility: 1.1% Market cap: $173.33 B Vol. 24h: $7.42 B price action cooled on Tuesday, July 15, moving sideways around the $2.9 mark with 0.53% intraday contraction. This consolidation comes after XRP delivered a blistering run of 37% profits in the last eight consecutive days of gains.
Largely the XRP’s initial price rally over the past week has been led by Bitcoin BTC $118 131 24h volatility: 1.1% Market cap: $2.35 T Vol. 24h: $79.77 B record-breaking run to new all time highs above $123,000. The latest market reports connecting the Ripple executives to California’s crypto adoption plans could reignite the next breakout phase.
California Governor Gavin Newsom officially unveiled the California Breakthrough Project on Tuesday, appointing high-profile executives from major crypto and tech companies including Ripple, Coinbase, MoonPay, and Snap Inc. as strategic advisors to the initiative
“The Golden State continues to lead in efficiency, strategically implementing technologies and practices that make Californians’ lives better. As the birthplace of modern tech, our state is uniquely positioned to bring the best and the brightest together to advance our work. We will not shy away from progress, but embrace it for the benefit of all Californians, including our state workforce,” said Newsom.
The group, which held its first meeting at Ripple HQ on June 6, aims to modernize public services, improve transparency, and implement blockchain technology innovation across state agencies. Newsom also signed an executive order directing agencies to streamline hiring and procurement processes, supported by a new Innovation Fellows program.
This official partnership could further enhance Ripple’s public image and deepen institutional investors’ confidence in XRP.
Technical indicators suggest XRP’s price uptrend remains intact despite Tuesday’s slight pullback. The price has settled into a consolidation pattern near $2.90 after peaking at $3.03 on Monday. The midline Donchian Channel now provides clear support at $2.55, aligning with the 20-day moving average, reinforcing this zone as a bullish base.
RSI remains in neutral-bullish territory, hinting at room for another leg up. If $2.90 continues to hold as intraday support, bulls may mount a retest of the $3.20 high, followed by a potential extension toward $3.50, a key resistance area last observed in early 2022. Sustained momentum above $3.20 would confirm the breakout.
Ripple (XRP) price forecast
However, a drop below $2.55 could shift the outlook bearish, with $2.30 emerging as a critical defense zone. For now, XRP’s price consolidation above $2.90 supports a bullish continuation, especially if institutional partnerships with the California government reignite investor interest.
As Ripple strengthens its ties with US government leaders, Best Wallet ($BEST) emerges as a crucial link between governance and next-gen crypto infrastructure. The ongoing $BEST Token presale, which has raised over $13.8 million, is gaining momentum among XRP holders looking to rotate profits.
$BEST offers reduced transaction fees, staking rewards, and early access to vetted projects, With XRP above $2.90 and Ripple’s public-sector role expanding, utility-focused tokens like $BEST are poised to benefit. Visit the official Best Wallet Website to join the presale
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
