XRP News Today: XRP Coiling Up at $3.55 as Traders Await Breakout

Prominent Bitcoin analyst MMCrypto recently posted a concise yet impactful message on X: “XRP COILING UP.” This statement has garnered significant attention from traders and analysts, who interpret it as a signal that XRP may be on the verge of a pivotal market move.

As of the latest report, XRP is trading at $3.55, showing a slight increase for the day after reaching a local high of $3.66 earlier in the week. The cryptocurrency has been maintaining a tight trading range between $3.41 and $3.56, indicating a period of consolidation. This compression in price movement supports the “coiling” narrative, where price volatility decreases as tension builds, similar to a spring being compressed before it is released.

A coiling pattern typically forms when price action narrows into a symmetrical triangle or wedge, signaling indecision but also setting the stage for a high-probability breakout once one side is breached. Technical analysts have observed that XRP is forming higher lows while repeatedly testing resistance around the $3.60 level. This kind of tightening pattern, especially after a strong rally, often precedes a major price breakout.

On-chain data and trading indicators suggest that market participants are preparing for a larger move. XRP’s open interest in futures contracts remains elevated, while spot trading volume continues to exceed $8 billion daily, both signs of strong participation. Although daily active wallet numbers have declined slightly since XRP’s recent peak, whale accumulation remains steady, indicating long-term confidence. Meanwhile, the MACD remains bullish on the daily chart, and RSI levels, though approaching overbought territory, still reflect strong momentum.

Despite the bullish setup, caution is advised. If XRP fails to hold its key support at $3.38, it could retrace toward the $3.00 level. Profit-taking by early holders and a cooling of retail interest could weigh on the price if bullish momentum stalls. Nonetheless, as long as XRP stays above its key support and maintains its coiling structure, the odds favor an upward breakout, particularly if market conditions remain favorable.

MMCrypto’s statement, “XRP COILING UP,” accurately captures the current state of XRP. The price is consolidating in a tight range, technical indicators are aligning, and market interest remains high. Whether XRP breaks out or down will depend on how it responds to the pressure building beneath the surface. For now, all eyes are on XRP as it teeters on the edge of a potential move, one that could define its trajectory for the rest of the year.