XRP News Today: XRP Breaks $3.00 Resistance, Eyes 60% Rally

XRP is entering a powerful new phase of price discovery, following a significant breakout that analysts say could mark the beginning of its next major rally. According to crypto chartist Steph Is Crypto, XRP has officially broken out of a prolonged consolidation range. This development, backed by strong market structure and historical precedent, signals that the next leg up may have already begun.

The chart shared by Steph Is Crypto shows that XRP had been consolidating within a clear horizontal range between $1.90 and $3.00 since late 2024. After a vertical rally that lifted XRP from under $0.60 to above $2.00 in just weeks, the asset entered a months-long accumulation zone, fluctuating tightly between support and resistance levels. A notable “fake out” above $3.00 earlier in the year briefly suggested bullish continuation, but the price quickly retraced, indicating the breakout was premature. That has now changed. The current weekly candle has not only broken above the $3.00 resistance level but closed solidly above it, confirming the strength of the breakout. This move mirrors an earlier pattern from mid-2024, where XRP consolidated in a tight range before surging upward. This recurring structure adds credibility to the notion that history is repeating, and a fresh wave of upside momentum is building.

As of the latest data, XRP is trading at $3.58, having touched an intraday high of $3.64. This marks a substantial increase from its July levels near $2.00. The breakout is not only technical but also supported by a surge in trading volume and increasing investor interest. Whale activity has significantly declined, with on-chain data showing a 94% drop in large wallet exchange inflows since July 11. This suggests that long-term holders are staying put, while new capital enters the market, adding to the bullish momentum.

Analysts across the space are now adjusting their targets. Crypto analyst Peter Brandt has projected a 60% rally from current levels, which would place XRP around $4.47 in the near term. Other projections are even more aggressive, with some traders eyeing $6 to $8 in the coming months, citing historical breakout patterns and the current pace of acceleration.

The timing of XRP’s breakout aligns with broader macro tailwinds for the cryptocurrency market. Recent regulatory clarity from U.S. lawmakers, particularly the passage of crypto-friendly legislation, has contributed to renewed investor confidence. XRP, long at the center of regulatory debates, is now benefiting from a more favorable policy environment. The shift has led institutional interest to expand, further supporting price growth. Moreover, with the Ripple vs. SEC case nearing its end and the crypto market regaining strength, XRP appears well-positioned to reclaim its status as one of the top-performing altcoins.

XRP’s breakout above $3.00 has opened the door to higher price targets, with $4.00, $5.00, and even $6.00 now within realistic reach. The current trend suggests the breakout is not merely a short-term spike but the start of a sustained bullish phase. As Steph Is Crypto aptly noted, this breakout has only just started, and based on the technicals, price action, and market conditions, XRP could be gearing up for its most explosive move yet.