XRP Price Consolidation Ends with Breakout Setup for $7 Rally

The XRP price remains in a consolidation range as traders wait for a breakout. According to EGRAG CRYPTO, the cryptocurrency is currently trading within a broader consolidation range, with technical structure taking precedence over sentiment.

A close above the upper resistance zone could signal the start of a new expansion phase, but until then, the current range remains the dominant market structure for XRP traders. Historical cycles suggest that after severe market crashes, strong bull markets often follow, which would support the view that accumulation must continue for certain investors.

The data from BankXRP shows net inflows into spot XRP ETFs totaling $13.24 million on August 21, marking the third day in a row with positive inflows. This consistent buying indicates increased investor interest in XRP through regulated investment vehicles and boosts the narrative of XRP overall.

If demand for the ETF does not wane and the level of resistance is broken, the XRP price may be ready to experience an extensive growth phase towards higher price levels. However, if resistance is not broken, XRP will continue to stay inside its existing trading channel.