XRP News Today: XRP Breaks Long-Term Triangle Pattern Eyes $3.40 Resistance and $11.20 Price Target

XRP has recently broken out of a long-term triangle pattern, sparking a renewed wave of bullish sentiment among traders and analysts. The breakout pushed the cryptocurrency above $3.22 after reaching a high of $3.38 in early August, marking a significant development in its price trajectory [1]. This move has led to the re-evaluation of key resistance and support levels, with the immediate focus turning to $3.40 as the next critical threshold.

The triangle pattern, which had been in place since late 2024, showed tightening price swings until the July breakout breached the upper boundary. This has triggered technical forecasts suggesting that XRP could rise to $5.75 and, if momentum continues, reach as high as $11.20 based on Fibonacci extension levels [1]. Analyst Ali, in a recent tweet, emphasized a $11.20 target stemming from a bullish flag pattern on the weekly chart, reinforcing the broader bullish outlook [1].

Current consolidation around $3.22 is closely monitored for signs of sustained buying pressure. A successful push above $3.40 is considered essential for unlocking further upside potential. If this level is cleared with strong volume, it could validate the continuation of the bullish trend and potentially open the door to higher price levels [1]. The $3.40 resistance aligns with the 1.0 Fibonacci extension, making it a structurally significant level for traders to watch [1].

On the downside, $2.25 has emerged as a key support level. A breakdown below this level could lead to further corrections, potentially testing $1.63 or $1.29 [1]. The ability of XRP to hold above $2.25 will be crucial in determining whether the recent bullish momentum is sustainable or if a deeper pullback is likely.

Analysts have also weighed in on the broader implications of the breakout. Some forecasts, such as those by Egrag Crypto, suggest a potential 777% rally to $28.16 based on a completed WXY corrective pattern and a long-term triangle breakout [2]. Mr. Xoom has suggested that XRP is in the final stage of a five-wave cycle, with Wave 5 potentially propelling the price to $7–$10 [3]. These projections, while ambitious, are contingent on XRP maintaining its current momentum and clearing key resistance levels.

Market activity has shown signs of growing interest, particularly in South Korea, where Upbit reported $1.09 billion in XRP trading volume in a single 24-hour period [2]. Derivatives data indicates increasing long straddle trades and a bullish bias, with Binance’s top trader long/short ratio for XRP/USDT reaching above 3.09 [2]. These metrics suggest that traders are positioning for further gains in the near term.

As XRP navigates this critical phase, the focus remains on whether buyers can extend gains beyond $3.40 and maintain control over the $3.20–$3.40 consolidation range. A failure to hold these levels could result in a retest of key support, while a successful breakout would likely accelerate the move toward $5.75 and beyond [1]. With multiple analysts identifying $7–$10 as key targets and some extending projections to $28.16, the coming weeks will be pivotal in determining the direction of XRP’s price movement [2].

Source:

[1] XRP Price Targets $11 After Breakout from Long-Term Triangle Pattern (https://cryptofrontnews.com/xrp-price-targets-11-after-breakout-from-long-term-triangle-pattern/)

[2] XRP News Today: XRP Rebounds to $3.34 on Legal ... (https://www.ainvest.com/news/xrp-news-today-xrp-rebounds-3-34-legal-clarity-bullish-technical-signs-2508/)

[3] Expert Predicts XRP Price Targets for Wave 5 (https://cryptonews.net/news/analytics/31405614/)