XRP News Today: XRP Awaits Breakout Above $2.33 for Potential 33% Rally

XRP, the cryptocurrency associated with Ripple, is at a pivotal moment, with analysts closely monitoring the price level of $2.33. According to market analyst Steph, a daily close above this threshold could trigger a significant rally, potentially ending the current consolidation phase that XRP has been experiencing.

Steph's technical analysis indicates that XRP has been forming a narrowing symmetrical triangular pattern, which is often a sign of market indecisiveness. However, the diminishing volume within this pattern suggests that a breakout could lead to explosive price movements once the market's momentum shifts. This pattern is one of the key indicators that Steph is watching closely in the upcoming trading sessions.

If XRP manages to close above $2.33, the next immediate target could be the $3.00 level, with a possible retest of the all-time high near $3.40. Volume trends also support this possibility, as market behavior suggests that a breakout above $2.33 could initiate a multi-leg rally driven by bullish momentum.

Fibonacci extension levels, based on XRP’s low in 2024 and high in January 2025, provide additional targets. These levels include potential corrections at $5.38, $11.31, $23.78, and even as high as $37.63. These targets are part of a broader technical setup and are not immediate forecasts, according to Steph. The full breakout could unfold gradually over several weeks or months, depending on market conditions and momentum.

Regulatory developments are also expected to play a significant role in XRP's potential rally. Institutional sentiment has been bolstered by legal developments between Ripple and the U.S. Securities and Exchange Commission, as well as Ripple's attempts to secure a U.S. bank charter. Additionally, the growing use of RLUSD is adding to the asset's interest. Market dynamics are also favorable, with capital rotation into altcoins and Bitcoin's new highs setting a positive ambiance for XRP to gain momentum if the altcoin market rebounds.

However, caution is advised as a strong liquidity block around $2.00 could act as resistance if the price fails to maintain key thresholds. Any decline beyond the levels of $2.06 or $1.95 could slow down or dismiss the bullish position. XRP is at a critical juncture, with $2.33 emerging as the level that could define its next significant move. A close above this threshold may ignite a long-awaited breakout, pushing the asset toward new multi-year highs.