XRP News Today: XRP Bulls Target $3.80 Breakout Amid Strong Technical and On-Chain Signals

XRP’s recent price action has drawn attention from multiple technical analysts, who highlight three bullish setups that could drive a significant rally. The immediate focus is on the $3.33 resistance level, which is seen as a critical threshold for the token’s next phase of movement. If XRP manages to break above this level, it could set the stage for a sharp move toward $4.39 and potentially $5.85, according to analyst Dark Defender [1]. Conversely, a failure to clear $3.33 might lead to a pullback to $3.05 or $3.00, reinforcing the need for consolidation before another attempt [1].

The convergence of bullish technical indicators adds to the optimism. XRP recently cleared a downward-sloping flag pattern and is retesting the upper trendline near $3.20–$3.25. Maintaining this zone could fuel a move toward $4.00 or even $4.50, according to Lark Davis [1]. An inverted head-and-shoulders pattern on the 4-hour chart also suggests a potential 15% price increase to $3.80 [3]. These formations indicate strong upward momentum and are being closely watched by traders.

On-chain data further supports a bullish narrative. Whale Alert reported a significant movement of 33.396 million XRP tokens—valued at approximately $108 million—being transferred to Coinbase within 24 hours. This activity raises speculation about strategic accumulation or profit-taking by large holders [3]. Additionally, increased XRP deposits on centralized exchanges suggest growing institutional or retail interest in the asset [3]. XRP is currently trading near $3.25, supported by strong Bollinger Band and RSI readings that point to continued upward pressure [3].

From a market structure perspective, a breakout above the $3.20–$3.30 range has shifted higher timeframes in a positive direction, reinforcing the case for further gains [4]. Imbalances in open positions also favor the bulls, with $170.01 million in long positions compared to just $24.85 million in short positions, according to CoinGlass [3]. This imbalance suggests that upward pressure is likely to continue in the near term.

Traders are advised to monitor key levels as XRP approaches a crucial decision point. The $3.25–$3.35 range is seen as a battleground where on-chain activity and order-book dynamics could determine the next direction of the price [3]. While the $3.80 level remains a major target, a temporary consolidation phase or cooldown is also being anticipated [3]. Analysts remain cautiously optimistic, noting that the convergence of bullish technical patterns, strong on-chain flows, and positive order-book dynamics positions XRP for a potential sustained upward move [3].

Source:

[1] Three Bullish Setups Point to a Strong XRP Rally Ahead (https://coindoo.com/market/three-bullish-setups-point-to-a-strong-xrp-rally-ahead/)

[2] XRP Holds Key Support as Bulls Gear Up for August Rally (https://bravenewcoin.com/insights/xrp-price-today-xrp-holds-key-support-as-bulls-gear-up-for-august-rally)

[3] XRP bulls eye $3.80 breakout after 20% rally – Traders, watch THESE levels! (https://ambcrypto.com/xrp-bulls-eye-3-80-breakout-after-20-rally-traders-watch-these-levels/)

[4] XRP Eyes $3.40 Hurdle as $3.20 Support Holds Firm Amid ... (https://www.ainvest.com/news/xrp-news-today-xrp-eyes-3-40-hurdle-3-20-support-holds-firm-bullish-order-book-2508/)