XRP News Today: XRP Forms Triangle Pattern Mirroring 2017 Breakout Potential

Coin WorldSaturday, Jul 5, 2025 10:55 pm ET
1min read

XRP, the cryptocurrency, has recently formed a six-candle triangle pattern on its monthly chart, mirroring a similar structure observed in 2017. This pattern suggests a potential breakout above the $2.50 mark, according to technical analysis. The current price of XRP is holding steady at $2.22, having peaked near $2.33 on July 1, 2025. The asset has shown consistent support above the $2.20 level, with a weekly gain of 0.94%.

Analysts are closely monitoring the $2.25 support level, as flipping this level into support could trigger a rally toward $2.69 or even $2.80. CasiTrades, a market analyst, highlighted the significance of the $2.25 level, noting that if XRP can hold this level as support, it could pave the way for a substantial price increase. Additionally, Egrag Crypto, another analyst, pointed out that a close above $2.35 would be bullish, with a close above $2.42 further strengthening the bullish case. According to the analyst's forecast, XRP has the potential to reach between $9.5 and $37.5 in this cycle based on historical market behavior.

The current price structure of XRP is reminiscent of the pattern seen in 2017, where the cryptocurrency formed a six-candle symmetrical triangle before breaking out above $2.50. This historical pattern suggests that XRP is currently in a consolidation phase, with the potential for a significant breakout move. The range of the current pattern is between $1.70 and $2.50, forming converging trendlines that indicate a narrowing price structure.

CW, a market analyst, noted that XRP has been building strength for six months, repeating a structure seen before the previous all-time high. If XRP breaks this convergence, the price could surpass the previous peak, confirming the final wave move. This analysis aligns with the historical pattern observed in 2017, where XRP experienced a significant breakout after a period of consolidation.

In summary, XRP's current price structure and technical patterns suggest a potential breakout above the $2.50 mark. Analysts are closely monitoring the $2.25 support level, as flipping this level into support could trigger a rally toward $2.69 or even $2.80. The historical pattern observed in 2017 provides further support for a potential breakout move, with the current price structure mirroring the symmetrical triangle formed during that period. If XRP can hold the $2.25 support level and break above the $2.42 resistance level, it could pave the way for a substantial price increase, with long-term targets set up to $37.5.

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