XRP News Today: XRP Breaks Long-Term Trendline, Targets 31% Gain

XRP, the cryptocurrency, has maintained its position above the $2.30 support level, indicating a bullish structure as it breaks through a long-term descending trendline. This upward momentum has been sustained, with critical resistance levels identified between $2.61 and $2.65. A successful breakout above these resistance points could propel the price towards the $3.10 and $3.3967 targets. The strong volume observed during this breakout suggests a robust bullish sentiment among traders.

The price structure of XRP shows a clear break above a long-term descending red trendline, accompanied by significant volume. This breakout is supported by the 0.888 Fibonacci retracement level near $2.30, providing a solid foundation for the current price action. Analyst EGRAG CRYPTO has emphasized the relevance of the $2.61 and $2.65 resistance levels, noting that a breakout above these points could trigger a surge towards the $3.10 zone.

Historical volume data indicates strong demand around the $2.00 mark, with significant volume concentration between $1.90 and $2.10. This suggests that if short-term selling pressure increases, XRP may revisit this area to collect liquidity. However, the current price structure favors a bullish continuation unless XRP loses support at $2.30. Additional short-term support is visible at price clusters near $2.20 and $2.15.

According to EGRAG CRYPTO’s analysis, the first major upside price target for XRP is $3.10, followed by $3.3967 if the bullish trend continues. The pattern highlighted by EGRAG outlines a ‘zig-zag’ consolidation phase before a possible vertical push. Despite recent volatility, XRP has managed to avoid closing below the 0.786 ($1.6126) and 0.702 ($1.2038) retracement levels, indicating that the overall trend remains intact.

The analyst’s visuals also point out a “fishing hook” pattern in the $1.47–$1.60 zone, suggesting that long-term buyers may step in if XRP’s price dips to this level. This pattern provides additional support for the bullish outlook, as it indicates potential buying pressure at lower price points. Overall, the current market setup suggests a favorable environment for XRP, with strong support levels and clear resistance targets guiding the price action.