XRP price eyes breakout as traders watch familiar technical pattern

XRP is once again drawing attention after a familiar technical setup resurfaced on its long-term chart.

The token has spent weeks trading in a tight range, but recent price action, combined with historical chart patterns and ongoing developments within the XRP Ledger (XRPL), has renewed discussion about whether another major move could be taking shape.

Historic chart pattern returns as XRP holds key support

XRP was trading at $1.09 at the time of writing, posting a 1.6% gain over the past seven days despite slipping 0.7% over the previous 24 hours.

Technical analysts have pointed to a setup that resembles periods when the asset spent weeks consolidating before breaking higher.

Although historical patterns do not guarantee future price movements, they have become an important reference point for traders monitoring XRP's next direction.

The immediate focus remains on the $1.10 to $1.12 resistance zone. XRP has tested this area several times but has yet to produce a decisive breakout.

On the downside, $1.08 continues to serve as the nearest support level. A break below that price could expose $1.05, while a move above resistance would strengthen the bullish technical outlook.

Momentum indicators also suggest that the market is waiting for a clear catalyst.

The Relative Strength Index (RSI) has remained close to 48, indicating neutral conditions rather than an overbought or oversold market.

Network activity slows despite growing technical interest

While technical charts have attracted renewed optimism, activity on the XRP Ledger has weakened significantly compared with earlier this year.

Daily payments on the network have dropped from approximately 1.694 million transactions recorded on May 28 to around 210,000 on July 20.

That represents a decline of more than 80% in less than two months.

Compared with the year's peak of 2.188 million daily payments recorded in February, the decline is even steeper at roughly 85%.

The slowdown extends beyond payment activity. Daily transactions have fallen to approximately 1.129 million, compared with the yearly high of 5.172 million recorded on April 6.

That marks a decline of nearly 78%, highlighting weaker activity across the network.

Active users have also declined, with addresses participating as senders or receivers dropping to about 123,986 on July 19.

These figures indicate that although XRP's chart has become more interesting from a technical perspective, on-chain usage has yet to recover to the levels seen earlier in 2026.

XRPL upgrade vote remains in focus

Developers and validators are also preparing for an important milestone on the XRP Ledger with the upcoming FixCleanup3_2_0 amendment vote, scheduled for around July 29.

The proposal focuses primarily on maintenance and performance improvements rather than introducing headline-grabbing features.

However, it forms part of a broader development roadmap that includes batch transactions, confidential transfers, sponsored transaction fees, permission delegation and additional improvements designed to make the network more efficient for developers and enterprise users.

Although the maintenance update itself is not widely expected to trigger an immediate price reaction, continued protocol development remains one of the key areas investors are monitoring as the XRPL ecosystem evolves.

Institutional developments support the long-term narrative

Beyond technical analysis and network activity, Ripple continues to attract attention through its enterprise relationships.

Recent reports have highlighted Ripple's growing engagement with major financial institutions, including Mastercard and JPMorgan, as part of the broader expansion of blockchain-based payment infrastructure.

At the same time, institutional investment flows have remained mixed.

XRP ETFs have recorded approximately $7.5 million in net outflows, reflecting cautious sentiment among larger investors despite growing interest in Ripple's payment technology.