XRP News Today: XRP Approaches $3.30 Mark Repeating Historical Three-Phase Pattern

XRP, the cryptocurrency associated with Ripple, is once again approaching the $3.30 mark, repeating a historical three-phase pattern that has defined its price cycles in the past. This pattern involves touching the previous all-time high, consolidating underneath it, and then breaking out. Market participants are closely monitoring the digital asset for a decisive move above this key level.

XRP’s recent price movement mirrors its market structure from 2017. The cryptocurrency touched its all-time high of $3.30, consolidated below that level, and is now showing momentum toward another attempt to break through. This setup is similar to the pattern observed before XRP surged to new highs during its 2017 rally. According to an analysis prepared by GalaxyBTC, XRP has historically moved in three phases: touching the all-time high, consolidating, and then breaking out followed by a strong upward trend.

A similar trend has been building since late 2024. XRP is trading above $2.98 and continues to find support between $2.85 and $2.99, reflecting growing buying interest. The technical outlook supports an uptrend continuation, with strong volume and support holding above the $2.85 level. XRP recently pulled back after facing resistance at $3.0371, but the broader market sentiment remains positive due to the earlier breakout rally and the formation of an inverse head and shoulders pattern. This pattern has often led to strong trend continuations in past market cycles.

If price action holds above $2.85, analysts suggest XRP could retest $3.05 and push toward the $3.30 mark. A breakout above that level would confirm a trend continuation into uncharted territory. According to an observation by market analysts, a clean break above the $3.30 zone would mark the start of price discovery. XRP has done this before, and current market data suggests it may be ready to do it again.

The recent price action in XRP has been marked by a steady increase in demand, as evidenced by the growing number of institutional investors and traders taking positions in the cryptocurrency. This increased demand has led to a significant rise in the price of XRP, which has been trading above $3.00 for several days now. The current price action suggests that XRP may be on the verge of breaking through the $3.30 resistance level, which could trigger a further rally in the cryptocurrency.

The three-phase pattern in XRP's price action is not a new phenomenon, and it has been observed in the past during periods of significant price appreciation. The pattern is characterized by a period of consolidation, followed by a sharp upward movement, and then a period of distribution. This pattern has been observed in other cryptocurrencies as well, and it is often used by traders to identify potential buying opportunities.