XRP News Today: XRP's Breakout Hinges on $2.85 Support—Can It Ignite a Bullish Fifth Wave?

Several analysts are currently advocating for a potential bull run in XRP, highlighting technical indicators and accumulation trends that suggest a price rebound may be on the horizon. Among these analysts, Dark Defender has drawn attention for his projection that XRP is in the final stages of its five-wave Elliott Wave pattern, entering what he calls the bullish fifth wave. According to his analysis, the support level at $2.85 is critical, as holding above this level would confirm the continuation of the upward trend. His target price stands at $4.39, a level that would represent a significant move from the current price around $2.87 [1].

Other analysts have also noted bullish developments in XRP’s price action. Ripple Van Winkle observed that XRP has dropped 25% from its July peak and highlighted whale accumulation as a sign of market strength. He pointed out that a breakout above $2.90 could lead to a price target of $3.70, with the potential to extend to $5 [1]. Similarly, EGRAG emphasized three key signals: a strong monthly chart structure, support above key Fibonacci levels (notably $1.99), and a price holding above the 21 EMA. His projection includes a near-term target of $3.90 and a long-term target of $46 [1].

XRP’s price movement has also been analyzed through technical patterns. Currently, the cryptocurrency is forming a symmetrical triangle with key support at $2.76 and resistance at $2.95. A breakout above $2.95 could trigger a significant upward movement, while a decline below $2.76 might lead to bearish sentiment. The 50-EMA and 200-EMA are converging at $2.82 and $2.88, respectively, and XRP has been making higher lows since the beginning of September, indicating increasing buying pressure [2].

Market indicators like the Relative Strength Index (RSI) and the Network Value to Transactions (NVT) ratio are also drawing attention. The RSI is currently at 58, indicating potential for further bullish movement. Additionally, the NVT ratio has reached its highest point in two months, suggesting the network value is growing faster than transaction volume, which could be a sign of overvaluation [2].

Accumulation activity in XRP has been strong. Glassnode data shows that over the last month, 1.7 million tokens have been purchased by investors, reflecting growing confidence in the asset. This accumulation trend is accompanied by positive technical indicators and has raised expectations for XRP to break through its main resistance level in the coming weeks [2].

XRP has been developed by Ripple Labs to solve key issues in traditional cross-border payments, including speed, cost, and scalability. The XRP Ledger offers settlement times of 3–5 seconds, significantly faster than the 1–5 days required by traditional SWIFT systems. Additionally, XRP transactions cost less than $0.01, compared to the 2–6% fees of SWIFT and the $2–$50+ fees of Bitcoin. These attributes make XRP particularly attractive for institutions looking to streamline international money transfers [3].

Several major banks and financial institutions, including SBI Holdings and Santander, have explored or adopted Ripple’s solutions. RippleNet, the company’s global payment network, has been integrated by over 300 institutional partners in more than 50 countries. While some institutions have used XRP for On-Demand Liquidity (ODL), others have opted for RippleNet without directly utilizing the token, largely due to regulatory concerns [4].

Despite the optimism from analysts, not all market participants share the bullish outlook. Some have questioned the timing of these projections, noting that similar predictions have been made over several weeks without significant price movement. Others remain cautious about a major correction, emphasizing the need for more concrete signals before taking a bullish stance [1].

Source: [1] This May Be Your Last Month to Buy XRP at Low Valuations (https://thecryptobasic.com/2025/09/06/this-may-be-your-last-month-to-buy-xrp-at-low-valuations-crypto-founder-warns/) [2] XRP's Symmetrical Triangle Pattern Signals Potential Surge Toward $3 (https://www.xt.com/en/blog/post/xrps-symmetrical-triangle-pattern-signals-potential-surge-towards-3) [3] What Problem Does XRP Solve? Crypto's Payment Innovation (https://www.bitget.com/wiki/what-problem-does-xrp-solve) [4] Are Banks Adopting XRP? Crypto Integration Trends (https://www.bitget.com/wiki/are-banks-adopting-xrp)