XRP’s price is having trouble finding a clear direction as the overall market shows mixed signs of volatility. Recently, short-term holders started taking profits during price increases, which led to a drop in buying interest. However, some key indicators for XRP are still rising, suggesting that a strong rebound could be on the way soon.
XRP’s Open Interest Gained Over $1.5 Billion in a Week
XRP is currently seeing strong activity from both buyers and sellers. According to data from Coinglass, around $21 million worth of XRP positions were liquidated in the last 24 hours — with buyers accounting for $17.4 million and sellers for $3.66 million.
Meanwhile, interest in XRP futures has been climbing for over the last seven days. Open interest has jumped to $5.47 billion, up over 3.9% in the past day. Over the past week, it surged from $2.13 billion to $5.38 billion, a massive 152% increase. This rise in futures activity, along with a price increase from $2 to $2.60, suggests that traders are becoming more confident in a bullish trend.
Additionally, large investors (whales) have been slowing their outflows, turning the 90-day average of net flows positive. Historically, this kind of shift has often signaled the end of a downtrend or the start of a new upward move.
However, not all signs are positive. XRP reserves on exchanges are at a one-month high, which could mean more selling pressure. Some whales have also moved large amounts of XRP to exchanges, possibly to sell.
Still, despite these bearish signs, none have been strong enough so far to slow down XRP’s recent upward momentum. The hourly long/short ratio is hovering above the 1 level, currently at 1.1227. This suggests that buyers have the advantage as around 53% expect the XRP price to rise.
If the current rally continues or at least creates new support levels at higher prices, XRP could stay in an overall uptrend over the long term. This is especially likely with the SEC’s decision on spot XRP exchange-traded funds (ETFs) expected in June, a ruling that could trigger another price jump.
What’s Next for XRP Price?
XRP price is facing strong bearish pressure above $2.65 as sellers continue to defend a surge. As a result, XRP has been forming multiple higher highs, attempting to break through immediate resistance channels. As of writing, XRP price trades at $2.55, declining over 1.8% in the last 24 hours.
Analysing the 4-hour price chart, the bulls have gained more control by pushing the price above the $2.50 mark. There’s a small hurdle at $2.65, but if XRP can break through that, it could climb to $3, a move that may validate a clear upward trend.
On the other hand, if the price gets rejected at $2.65 and falls below the 100-day EMA (currently at $2.42), it could mean XRP will trade in a sideways range for a while, possibly hovering between $2 and $2.6.
Avalanche (AVAX) has recorded a price increase of 4.21% today, July 21, to trade at $25, its highest price in two months. Because of these gains, AVAX price is now trading close to the resistance of a double bottom, and if it can make a strong move above this resistance, considering that network activity is
Dogecoin (DOGE) price continues to show strong bullish momentum, with analysts pointing to a potential meme coin rally. After breaking above a key resistance trendline, DOGE remains positioned for further gains. The breakout target of $0.6533 suggests a possible 318% increase, drawing attention from market participants. Technical indicators, wave structures, and trading volume trends support the possibility of an extended upward move.
Dogecoin Price Breaks Key Resistance
Dogecoin price has surged 129% since breaking through a critical resistance trendline, signaling a shift in market dynamics. The formation of higher lows indicates a potential continuation of the uptrend, with price action suggesting an early expansion phase.
Technical analysis points to a well-defined breakout structure that aligns with historical price movements. Elliott Wave Theory on the chart suggests that DOGE price may be in the middle of a bullish impulse wave. The volume spikes confirm increased market participation, reinforcing the likelihood of sustained upward movement.
Source: X
Moreover, the market structure indicates that the top meme coin price is following a bullish wave pattern, forming a series of higher highs and higher lows. A curved trendline on the chart suggests that the DOGE has transitioned from a prolonged correction phase into a breakout phase.
Fibonacci extension levels and historical resistance points indicate that DOGE could reach the projected breakout target of $0.6533. If this pattern holds, the top meme coin price may see further increases as momentum builds.
Ali Martinez Identifies a Buy Signal
Supporting the bullish outlook, analyst Ali Martinez has pointed out a potential rebound in Dogecoin price using the TD Sequential indicator. The indicator has flashed a buy signal on the daily chart, which traders often use to identify trend reversals. This development comes after a period of bearish candles, suggesting that DOGE may be entering a recovery phase.
Source: X
Martinez’s analysis highlights a green buy setup on the latest price candle, indicating that bullish momentum could return. If DOGE sustains buying pressure, the price may move toward higher resistance levels.
Key Levels to Monitor
Dogecoin price remains in a strong position following the breakout, with support levels holding above key zones. The formation of higher lows suggests that buyers are maintaining control, reinforcing the possibility of further gains.
Resistance levels remain critical for confirming the next phase of the rally. The primary breakout target of $0.6533 remains in focus, with Fibonacci extension levels providing additional reference points. If DOGE maintains its current trajectory, the price could continue to climb, supporting the broader bullish outlook.
Another analyst recently provided a more optimistic approach, predicting the meme coin price could reach $90 by the end of 2025. Crypto analyst DOGECAPITAL highlighted that this parabolic rally would occur in phase 3 of DOGE’s bull run, mirroring past market cycles.
At press time, the Dogecoin price is trading at $0.1669, reflecting a 6% increase in the last 24 hours. The meme coin’s market cap has surged to $24.77 billion, while its 24-hour trading volume jumped by 13% to $2.49 billion, indicating strong buying interest.
As July ends, traders and investors will keep an eye on August. They willwatch several US economic signals that could influence their portfolios.
This week’s US economic signals are particularly important with Bitcoin (BTC) eyeing the $120,000 threshold.
US Economic Indicators That Could Impact Bitcoin This Week
The crypto market is up today, with Bitcoin leading the charge as it closes in on $120,000. However, whether this optimism is sustainable depends on how this week’s US economic signals unfold.
US Economic Signals this week. Source: MarketWatch
Consumer Confidence
The consumer confidence report is starting this week’s US economic signals, which are due on Tuesday. The Conference Board’s Consumer Confidence Index plummeted to 93.0 in June 2025, a 5.0-point drop from May (98.0).
According to data on MarketWatch, the median forecast is 96.0, suggesting economists are more optimistic for July. However, consumers express growing concerns amid Trump’s tariffs.
“Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future,” Reuters reported, citing Joanne Hsu, the director of the Surveys of Consumers.
This erosion of confidence suggests a reduced risk appetite. Pessimistic consumers are less likely to invest in speculative assets like Bitcoin, favoring safer options like bonds or cash.
If the July consumer confidence rises above expectations, it could bolster risk appetite, potentially boosting crypto.
The Job Openings and Labor Turnover Survey (JOLTS) report and Job Openings are due on Tuesday and will be released by the US Bureau of Labor Statistics (BLS).
JOLTS
The June JOLTS report, due on Tuesday, is projected to come in lower than the 7.8 million recorded in May. According to economists surveyed by MarketWatch, data on job openings, hires, and separations in the US could come in at 7.4 million.
Despite the projected drop, a 7.4 million reading would still exceed the multi-month low of 7.192 million recorded in March. Notwithstanding, it remains the key highlight of this week’s US economic indicators.
ADP Employment
Another labor market data point to watch this week is the July ADP employment report. The BLS report, which is more comprehensive and widely regarded as the official measure, indicated that private-sector employment dropped by 33,000 jobs in June 2025.
The figure was significantly lower than economists’ expectations of a 95,000 job increase, with the decline suggesting a slowdown in hiring. Data on MarketWatch shows that economists projected 82,000 job increases in July, which would still be lower than the previous reading.
Initial Jobless Claims
Another labor market data feature among US economic signals this week is the initial jobless claims, due on Thursday. This weekly jobs data highlights the number of US citizens who filed for unemployment insurance the previous week.
Initial jobless claims came in at 217,000 in the week ending July 19, but economists anticipate better prospects for the week ending July 26 and anticipate up to 221,000 applications.
An uptick in jobless claims may signal economic weakness. This would increase the likelihood of the Fed adopting a more accommodative monetary stance.
Such a shift could lead to a weaker dollar, enhancing Bitcoin’s attractiveness as an alternative asset. However, if the rise in claims is viewed as a temporary fluctuation, the impact on Bitcoin may be limited.
Meanwhile, analysts say a resilient labor market, coupled with sticky inflation, could allow interest rates to remain elevated. However, signs of a cooling job sector could temper the Fed’s path.
Non-Farm Payrolls
The US Employment report, or Non-Farm Payrolls (NFP) for July 2025, is scheduled for release on Friday. The economy added 147,000 jobs in June after 139,000 jobs in April. Meanwhile, the unemployment rate dropped to 4.1% in June after 4.2% in May.
Non-farm payroll and unemployment in the US. Source: Trading Economics
Data on MarketWatch shows that economists anticipate an increase of 4.2% in the US unemployment rate against a slowdown in jobs to 102,000. This drop or slowdown reflects potential economic impacts from President Trump’s tariffs.
Strong job growth may lead the Fed to maintain its current monetary policy stance or even consider tightening, which could strengthen the US dollar and potentially suppress Bitcoin.
However, if underlying economic concerns prompt the Fed to adopt a more dovish approach, Bitcoin could benefit as investors seek alternative stores of value.
Analysts say tough employment conditions in the US come as employers seeking clarity around the White House’s trade policy progressively having to deal with frequent adjustments to timelines and schedules.
FOMC Interest Rate Decision
Meanwhile, this week’s US economic signals highlight the FOMC interest rate decision on Wednesday. This economic indicator comes after the US CPI (Consumer Price Index) showed inflation rose to 2.7% in June.
The FOMC minutes on July 9 suggested rate cuts this year, with policymakers agreeing inflation had eased but remained “somewhat elevated.” Additionally, uncertainty around the outlook had diminished, though not disappeared.
However, whether the Fed will cut interest rates on July 30 remains to be seen. Data on the CME FedWatch Tool shows that interest bettors see a 96.9% probability that the Fed will keep interest rates unchanged between 4.25% and 4.50%.
“What’s more interesting is the Powell press conference. A few days ago, Trump met Powell, and he’s expecting the Fed to be dovish. A few other Fed governors are also calling for low interest rates, so this press conference will be pivotal,” one user observed.
Indeed, beyond the FOMC interest rate decision, traders and investors will closely examine Fed chair Jerome Powell’s speech for signals into the Fed’s future outlook.
If Powell hints at rate cuts in September, it could inspire optimism in the market. However, if he sounds just like the last FOMC meetings, the crypto market might see a sharp correction.
