XRP News Today: XRP Forms Symmetrical Triangle Amid 2.3% 24-Hour Gain and $4.00 Price Target Potential

XRP is currently forming a symmetrical triangle pattern on the daily chart, a classic technical formation often associated with a period of consolidation before a decisive price move [1]. The cryptocurrency has been trading within a narrowing range defined by converging trendlines, with support at $2.95 and resistance at $3.10 acting as key levels for near-term price action [2]. The current price of XRP stands at $3.02, having risen 2.3% in the last 24 hours, and is probing these critical boundaries as traders await a breakout [3].

The symmetrical triangle typically signals indecision in the market, with the price oscillating between higher lows and lower highs until a breakout occurs [4]. In XRP’s case, the pattern follows a prior surge that saw the price rise by 45.1% over eight days, reinforcing the idea that a similar move could be on the horizon [5]. Analysts highlight that a successful retest of the $2.95 support level would be critical in confirming the bullish bias, while a breakout above the $3.10 resistance could pave the way for a move toward $4.00 or higher [6].

Historical price behavior suggests that such patterns often lead to a continuation of the previous trend following a consolidation phase [7]. If XRP breaks above the upper trendline of the triangle, it could indicate that buyers have taken control, potentially unlocking a 45% price gain, mirroring prior bullish surges [8]. The measured move from the triangle’s apex also points toward a potential target above $4.00, assuming the pattern holds intact [9]. However, traders are advised to remain cautious, as a breakdown below the $2.95 support level could trigger a retest of lower price zones.

The recent consolidation has also coincided with increased activity from large holders, with 470 million XRP liquidated over the past weeks as profit-taking accelerated [10]. While this may signal a shift in sentiment, it aligns with the broader technical setup, where key price levels are being closely watched for signs of direction [11]. Traders are now focused on the daily chart for confirmation signals, with the potential for a significant price surge depending on whether the support and resistance levels hold [12].

Sources:

[1] title1 - Coinspeaker (https://www.coinspeaker.com/whales-liquidate-470m-xrp/)

[2] title2 - Binance (https://www.binance.com/square/post/28572766993009)

[3] title3 - AInvest (https://www.ainvest.com/news/xrp-news-today-cold-wallet-presale-hits-6-2m-xrp-xlm-show-bullish-technical-patterns-2508/)

[4] title4 - Coincub (https://coincub.com/crypto-chart-patterns-guide/)

[5] title5 - Coinspeaker (https://cryptonewsland.com/xrp-nears-breakout-as-symmetrical-triangle-cons/)

[6] title6 - CoinEdition (https://cryptorank.io/news/feed/e1ce1-xrp-price-prediction-4-dollar-target-all-time-high)

[7] title7 - CryptoBrowser.io (https://cryptobrowser.io/news/at-00276-daily-buyer-battles-push-blockdag-ahead-as-xrp-whale-accumulation-and-aptos-price-forecast-stall/)