XRP Breakout Looms: Inverse Head and Shoulders Signals $2.60

• XRP’s inverse head and shoulders pattern signals strong breakout potential.
• Ripple-Wormhole integration boosts XRPL’s institutional and multichain reach.

XRP is showing renewed bullish momentum across multiple charts and market indicators. Ali Martinez’s data shared via TradingView shows XRP forming a textbook inverse head and shoulders on the 1-hour chart. 

The setup includes a clear left shoulder, a pronounced head, and a developing right shoulder. XRP currently trades near $2.30, with buyers testing the neckline resistance at $2.35.

A confirmed breakout could initiate a measured move targeting $2.60. This projection implies a potential 13% rally from current levels.

Fibonacci extension levels at $2.42, $2.49, and $2.56 could serve as resistance on the way up. Analysts emphasize that traders should monitor volume and candle closes for confirmation above the neckline.

XRP/BTC Faces Fifth Resistance Test

CrediBULL Crypto noted on July 1st that XRP/BTC is now on its fifth attempt to breach a key resistance zone. The pair has failed four previous breakout attempts, each time being rejected at the same horizontal level.

A widely shared meme featuring Gandalf saying, “You Shall Not Pass!” reflects trader sentiment around the stubborn barrier. 

Despite prior rejections, XRP continues to approach this resistance with momentum. The persistent tests suggest rising bullish pressure.

If successful, the breakout could drive XRP/BTC toward the 0.000065 BTC mark. The chart includes a red supply zone above, with Fibonacci retracement levels mapping possible resistance ahead. Analysts see this level as a potential turning point in XRP’s ongoing BTC downtrend.

Ripple Adds Wormhole to XRPL for Cross-Chain Growth

Ripple has announced the integration of Wormhole into the XRP Ledger to enhance its cross-chain functionality. According to the Wormhole Foundation, this move expands XRPL’s reach across leading blockchain ecosystems. 

The partnership brings Wormhole’s messaging layer to the XRPL, supporting multichain communication and interoperability.

Robinson Burkey, Co-founder of the Wormhole Foundation, stated that the integration opens new possibilities for institutional and real-world asset adoption. He also cited XRPL’s role as a key infrastructure in enterprise blockchain finance. 

Ripple aims to position XRPL as a regulated, interoperable foundation for the growing digital asset landscape. This integration could attract broader institutional interest and improve XRPL’s relevance in multichain development.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.