XRP Ignites 13% July Rally as Crypto Market Sees Broad Recovery

XRP has started July on a high note, surging over 13% in value. This comes as the crypto market shows signs of recovery, with many assets breaking out of their recent ranges.

According to Santiment, this uptrend is not just limited to equities. After weeks of bearish sentiment and lackluster price action, buyers have finally stepped back into the market, pushing prices higher near key support levels.

XRP has been one of the biggest beneficiaries of this trend, rising from a low of $1.02 on July 1 after being stuck in a range between $1.00 and $1.07 for several days. This marks the fourth consecutive day of gains for XRP since that date.

Profitability indicators have been forecasting this rise, with all-time lows recorded for XRP's average returns. This suggests that investors are finally taking advantage of stretched losses as a contrarian signal.