XRP News Today: WIF Eyes $4–$5 Breakout as Technical and On-Chain Signals Strengthen

WIF has recently shown technical and on-chain signals suggesting a potential breakout toward a $5 price level. The price has dipped into micro support within a white Elliott Wave scenario, marking what could be wave 2, while the lack of strong momentum in the price reaction raises caution among analysts [1]. At the time of analysis, WIF traded near $0.995 with a 2.90% intraday gain, yet the upside move remains subdued, and a break above $1.17 is seen as a key trigger for further gains.

The cup-and-handle pattern forming on WIF’s chart is considered a bullish continuation pattern, with a breakout level set at $1.30. If WIF moves past this threshold with strong volume, analysts expect a sharp rally toward the $4–$5 range [1]. The price has already moved above the Ichimoku cloud, reinforcing the bullish case, and traders are watching for a volume spike at resistance to confirm the strength of the pattern.

Coinglass data shows that open interest for WIF futures has tripled since mid-April, rising from approximately $200 million to over $600 million as the price climbed from near $0.30 to over $3.00 [1]. This surge in speculative activity, aligned with price movement, is interpreted as a bullish sign. The growing participation and confidence among traders reflect a strong correlation between derivatives activity and the asset’s price structure.

While WIF has experienced a mild correction after its July peak, the technical indicators suggest a potential continuation of the bullish trend. The Fibonacci projections imply a longer-term path toward the $3.00–$5.00 range, with immediate support levels currently estimated between $0.90 and $0.95 [1]. Analysts are particularly focused on the $1.17 resistance level, which, if sustained above, could indicate the beginning of wave 3 in the Elliott Wave count—typically the strongest and most extended move.

The broader market environment remains supportive, with Bitcoin showing resilience and altcoins beginning to consolidate. WIF’s setup appears more defined compared to other altcoins currently in similar bullish phases, such as XRP, which is also expected to move toward a $5–$5.40 range if key levels are reclaimed [2]. However, WIF’s clearer technical structure and accumulation patterns have drawn increased attention from both retail and institutional traders.

Volume and on-chain behavior are critical in validating the WIF price action. Rising volume during bullish moves suggests ongoing accumulation, while the absence of large sell-offs indicates limited short-term volatility [1]. These conditions are often observed before major moves in the crypto market, especially when a coin transitions from consolidation into a new upward trend.

Despite the strong technical case, analysts caution that the current price reaction has been relatively muted, and a breakout remains conditional on key levels being successfully cleared. The $5 target, while plausible, is still contingent on confirmation through volume and price action at critical resistance levels.

Source:

[1] Dogwifhat Price Signals Breakout Setup as $4 Target Re ...

https://bravenewcoin.com/insights/dogwifhat-price-signals-breakout-setup-as-4-target-re-enters-radar

[2] XRP Price Aiming for $5, But These Two Altcoins Could ...

https://coincentral.com/xrp-price-aiming-for-5-but-these-two-altcoins-could-see-50x-before-year-end/