XRP Traders Book Profits Amid Market Stability

XRP is once again in the spotlight as crypto traders shift toward profit-taking strategies, even as Bitcoin maintains a historic high. While XRP remains relatively stable near the $2.26 mark, other major cryptocurrencies are showing signs of retreat, reflecting a broader consolidation phase across digital assets.

Last week, Bitcoin (BTC) achieved its highest-ever weekly close at nearly $110,000, a remarkable milestone amid concerns surrounding dormant whale movements and global economic uncertainties. The potential reactivation of previously inactive whale wallets transferring $8 billion worth of BTC caused brief disruptions. Despite this, XRP held firm, displaying resilience in a turbulent market landscape.

By Tuesday, Bitcoin steadied around $108,000 after a short-lived selloff on Monday. Profit-taking became evident across several leading tokens. Solana (SOL) dropped 2.3% to settle near $149, while Dogecoin (DOGE) led the losses, falling by 4.1%. Ethereum (ETH) hovered around $2,530, and XRP continued to stay strong, holding its ground at $2.26.

Broader financial markets were also navigating uncertainties. Asian equities experienced slight turbulence after former President Donald Trump suggested a willingness to resume trade negotiations, effectively delaying new tariffs until at least August 1. While markets remained cautious, the MSCI Asia-Pacific index was mostly flat, despite new trade levies targeting Korea and Japan. This sentiment trickled into crypto markets, with XRP and other tokens mirroring the stabilization seen in global equities.

Risk tolerance showed signs of revival. The Japanese yen weakened, and the South Korean won rebounded, while optimism lifted the euro thanks to speculation about a potential European Union economic agreement. According to Augustine Fan, Head of Insights at SignalPlus, “Markets are hovering around record highs again. Earnings season is kicking off, and investor sentiment will be heavily influenced by corporate forecasts, especially after the chaotic swings caused by prior tariff headlines.”

Fan also emphasized the ongoing correlation between traditional equities and Bitcoin. This correlation remains high, suggesting that cryptocurrency trends continue to mirror movements in global risk asset markets. “Unless we see a rise in volatility, it looks like the market’s heading into a hot yet subdued summer, but with room for unexpected breakouts,” he noted.

As traders react to immediate market catalysts, one trader remains optimistic about a bullish breakout. Bitcoin is expected to potentially cross the $112,000 mark, with further upside momentum possibly pushing it toward $120,000 by month-end. This outlook, shared by Ryan Lee, Chief Analyst at Bitget Research, is bolstered by strong institutional interest and steady inflows into spot ETFs.

“Ethereum is climbing steadily as well,” Lee noted, citing whale accumulation and regulatory optimism under a crypto-supportive U.S. administration. ETH could target the $3,000 mark before July ends, though lingering market volatility could impact this prediction. Lee also highlighted the anticipated federal rate cut in September as a significant bullish trigger across all major cryptocurrencies, including XRP.

Despite all these developments, XRP’s current stability makes it a standout asset during this phase of market consolidation. With major tokens experiencing short-term corrections, XRP is viewed as a relatively steady investment—one that traders are currently monetizing through profit-taking strategies. Its performance continues to capture attention as broader macroeconomic events shape investor behavior across the crypto landscape.

Related: Expert Advice: Sell XRP If You’re Confused

Read more: Bitcoin Traders Chase $130K Bets in Anticipation of Renewed Bullish Volatility