XRP is currently showing bullish signals similar to a pattern that previously led to a 70% price increase earlier this year. Following a period of consolidation within a falling wedge, XRP is poised for a potential breakout, targeting a price of $3.75 in August. The pattern mirrors the consolidation seen between December and January, where XRP bounced off its 50-day exponential moving average (EMA) and ultimately surged from around $2 to over $3.39. Currently, XRP is testing the upper trendline of the wedge; however, a rejection may lead to a retest of the 50-day EMA. Analysts are optimistic about XRP's prospects, bolstered by significant growth in the XRP Ledger (XRPL), which processed over 70 million transactions in July and saw the creation of 1 million new accounts this year. Additionally, increased activity around stablecoins on the XRPL adds to the bullish narrative, reinforcing expectations of a rally that could push XRP towards the $3.75-$4.00 range.

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