XRP News Today: XRP Completes Triple-Tap Pattern, Surges 90% as Bullish Signal Triggered

XRP has completed a key technical pattern known as the "triple-tap," reaching the upper boundary of its trading range and triggering a bullish signal for the asset. According to leading crypto analyst CrediBULL Crypto, this development marks a significant milestone in XRP’s price trajectory. The triple-tap formation occurs when a price tests a key support level three times before surging higher, indicating that sellers have lost momentum and buyers are now in control [1]. For XRP, this pattern was confirmed by a breakout above $3.20, establishing a strong foundation from its $1.90 lows [1]. The asset is currently retesting those breakout levels, which have transitioned from a supply zone on the daily chart (D3) to potential support [1]. This shift is often seen as a precursor to further upward movement.

The technical structure of XRP aligns with Elliott Wave theory, which suggests the asset may still be forming a small fifth sub-wave on lower timeframes. CrediBULL Crypto noted that this sub-wave could complete the initial five-wave impulse off the $1.90 bottom, setting the stage for a larger bullish cycle. In such models, a five-wave move is typically followed by a corrective phase before continuation [1]. Analysts emphasize that the current pullback—despite a 2% dip—is not a sign of weakness but rather a natural pause within a broader uptrend [1].

Price action data highlights XRP’s resilience. As of the latest report, the token is trading around $3.24, maintaining stability after a brief decline from recent highs of $3.66. Over the past 30 days, XRP has surged more than 90%, driven by strong momentum from its $1.90 lows [1]. The asset remains firmly above critical support levels between $3.20 and $3.30, consolidating just above the flipped D3 supply zone [1]. This consolidation has been tested against market-moving events, such as a $140 million XRP transfer linked to Ripple co-founder Chris Larsen, which briefly pressured the market. However, analysts, including CrediBULL, dismiss such movements as routine and unrelated to a trend reversal [1].

The broader market context also supports a bullish outlook. Growing institutional interest, speculation around XRP-based ETFs, and Ripple’s evolving regulatory roadmap create a favorable macro backdrop for the token. CrediBULL Crypto’s analysis underscores that XRP’s technical setup remains robust, with the triple-tap breakout and successful retest of former resistance as textbook bullish signals. If the fifth sub-wave completes as anticipated, it could signal the end of wave one in Elliott Wave theory, paving the way for a potentially stronger wave three extension [1].

Market participants are advised to monitor key levels closely. A sustained breakdown below $3.20 could invalidate the bullish case, while a confirmation above $3.66 may extend the uptrend. Analysts stress that while the current dip is a normal part of the trend, the overall momentum remains intact, provided critical support holds [1].

Source: [1] [title: XRP Completes Triple-Tap Setup, Analyst Says Chart Remains Bullish] [url: https://coinmarketcap.com/community/articles/688275c562fc924b0b927c95/]