XRP News Today: XRP Breaks Above $2.6 Resistance, Signals 251% Rally

XRP, the cryptocurrency associated with Ripple, has recently formed a textbook double bottom reversal pattern on the 3-day chart, with price action now breaking above a significant resistance level. This pattern was shared by Steph Is Crypto, a well-respected analyst in the XRP community, and it illustrates a shift in momentum following months of consolidation and a prolonged downtrend. The first bottom in this structure formed in mid-April 2025 when XRP dropped to approximately $1.65. After rebounding and failing to breach resistance around $2.6, the price retraced, reaching a second bottom near $1.9 in early June. This double dip established a firm support level and laid the groundwork for the current reversal setup.

Following the second bottom, XRP began a strong ascent through late June and early July, eventually testing the neckline resistance at roughly $2.6. The most recent candle has now closed above this level, indicating a potential breakout. The move above this critical zone marks the first clear break of the neckline since the pattern began forming in March and may signal the beginning of a larger upward trend. The double bottom structure shared by Steph is well-defined. The asset tested a narrow support zone twice with minimal deviation, while the neckline at $2.6 remained a consistent ceiling throughout April to early July. With the breakout above that level now in place, the technical projection for this pattern points toward upside targets in the $3.4–$4 range, potentially hitting a new all-time high. These targets are derived by measuring the vertical distance from the base ($1.75) to the neckline ($2.6) and applying it above the breakout level. This method aligns with standard technical practice and is often used to estimate the potential scale of a reversal.

The use of the 3-day timeframe adds to the significance of the pattern. Breakouts on higher timeframes are generally seen as more reliable than those on shorter intervals, as they reflect broader market positioning and reduced noise. In this case, the close above $2.6 suggests the potential for sustained bullish momentum, provided the level holds on a retest. A prominent analyst recently predicted that rising above $2.6 would send XRP to $3. The asset is currently trading at $2.79, well above this resistance, and on its way to much higher levels. If XRP remains above this former resistance, the double bottom can be considered confirmed.

Analysts have been closely monitoring the price movements of XRP, noting that it has formed a double-bottom pattern around $0.15, with a decisive push past $0.162. This technical setup is often seen as a strong bullish signal, as it indicates that the asset has found support at a particular level and is now poised for an upward movement. The breakout above the resistance level at $0.162 is particularly noteworthy, as it suggests that the asset has overcome a significant barrier and is now in a position to continue its upward trajectory. The potential for a double bottom breakout is further supported by historical data. Analysts have presented charts suggesting that XRP may be on the verge of replicating a historical breakout pattern, which could lead to a significant rally. According to the analyst's forecast, XRP could see a 251% rally or more, based on past performance. This prediction is based on the assumption that the current price action mirrors previous breakout patterns, which have resulted in substantial gains for the asset.

The broader ecosystem of Ripple, including its stablecoin RLUSD and cross-border settlement integrations, continues to attract institutional interest. This growing institutional involvement is seen as a positive development for XRP, as it provides additional support for the asset's price and increases its credibility in the market. The combination of technical indicators and institutional interest has led analysts to target the $2.90–$3.40 range as the next resistance band for XRP. This range is seen as a key level that, if breached, could trigger accelerated upside movement for the asset. The recent price action of XRP has been characterized by strong technical structure and aggressive leveraged positioning. The asset has formed an ascending triangle pattern, with higher lows and horizontal resistance tests, indicating a bullish trend. The afternoon resistance at $2.96 and consolidation at $2.78 further support the bullish outlook for XRP.

Analysts are now watching closely to see if XRP can flip the $2.80–$2.85 range into a new base. A clean move through the $2.90 zone with a volume of over 200 million could open the path to $3.40. However, failure to hold above the $2.70 level could invite a pullback toward the $2.58–$2.60 range. The whale long at $2.30 continues to act as a downside anchor for the bullish bias, providing additional support for the asset's price. In summary, the recent price action of XRP, combined with technical indicators and institutional interest, suggests that the asset is poised for a potential double bottom breakout. Analysts are targeting the $2.90–$3.40 range as the next resistance band, with the potential for accelerated upside movement if this level is breached. The strong technical structure and aggressive leveraged positioning of XRP provide additional support for the bullish outlook, making it an asset to watch in the coming days.