XRP News Today: XRP Bulls Defend $1.60 Support Ahead of Q3 Breakout

XRP, the cryptocurrency developed by Ripple Labs, is currently at a critical juncture as bullish traders defend a key support level, setting the stage for a potential breakout in the third quarter of the year. The price of XRP has recently tagged the $1.60 mark, a significant support level that has been closely watched by market participants. This defense of the support level indicates that bulls are anticipating a recovery and are prepared to push the price higher.

The current market dynamics suggest that XRP is consolidating around this support level, with technical indicators such as the Moving Average (MA) and Bollinger Bands tightening. This consolidation phase is often a precursor to a breakout, as the price compresses within a narrow range before making a significant move. According to analysts' forecasts, the bulls are targeting a surge in the third quarter, which could see the price of XRP rise significantly from its current levels.

The defense of the $1.60 support level is crucial for the bullish narrative, as it provides a foundation for further price appreciation. If the bulls can successfully defend this level, it could pave the way for a breakout above key resistance levels, potentially leading to a surge in the third quarter. The market sentiment around XRP has been positive, with increased whale activity and a rise in searches for 'XRP to $3,' indicating that investors are bullish on the token's prospects.

XRP is gaining strong momentum after weeks of consolidation, with bulls eyeing higher targets into Q3 2025. According to analyst Crypto Patel, XRP has reclaimed key levels around $2.00 and $1.90. These zones now act as solid support after months of sideways price action. The token currently trades near $2.19, rebounding sharply from recent lows. Analysts suggest that if the support holds, XRP could spearhead the next altseason breakout.

The 4-hour chart shows XRP navigating between resistance and support zones. Price faced rejection near $2.6549, $2.4780, and $2.3308 during its prior push upward. However, the token found a critical base at $2.0803, labeled as “Multi Time Tested Support.” This level prevented deeper declines and triggered a 10% bounce from May’s bottom. Below this, $1.9767 and the psychological $1.9000 level act as key floors for bullish continuation.

Meanwhile, Crypto Faibik highlights a symmetrical triangle pattern visible on XRP’s daily chart. This formation began after XRP’s major rally from $0.50 to $2.90 in late 2024. The upper trendline connects several failed breakout attempts, while the lower trendline held firm during dips. Price now trades within a tight range, nearing the apex of this formation. Hence, the pattern is nearing completion as the triangle squeezes price action into a narrow band. Typically, such formations resolve in the direction of the previous trend. For XRP, that trend remains bullish. Moreover, consolidation has reduced volatility and allowed strategic accumulation. Market sentiment shows growing anticipation for a breakout to the upside.

Additionally, Faibik believes XRP is setting up for a “parabolic breakout” in Q3. He forecasts a midterm target of $4.60 if the bullish breakout confirms. That would be a continuation of XRP’s uptrend and possibly trigger an altcoin rally. Volume has also shown signs of accumulation, supporting this breakout thesis. XRP’s structure aligns with bullish technical setups and historical continuation patterns. Traders now monitor whether resistance at $2.33 and $2.65 can be broken convincingly. With strong support below and momentum building, XRP appears primed for a powerful move ahead.