XRP News Today: XRP Gains 3.9% as Symmetrical Triangle Pattern Tightens

XRP, the cryptocurrency associated with Ripple, is currently forming a symmetrical triangle pattern on its price chart, with the pattern tightening and indicating a potential breakout in the near future. The target price for this breakout is set at $2.40, a level that has been closely watched by traders and analysts alike. The formation of this pattern suggests that XRP is consolidating before making a significant move, either to the upside or downside.

The tightening of the symmetrical triangle pattern is a technical indicator that often precedes a strong price movement. Traders are closely monitoring the situation, as a breakout above the $2.40 resistance level could signal a bullish trend for XRP. Conversely, a breakdown below the support level could indicate a bearish trend. The outcome of this pattern will likely have a significant impact on the short-term price action of XRP.

XRP has recorded a 24-hour gain of 3.9%, pushing its price to $2.28. The price is now just one cent below the $2.29 resistance level. Support remains firm at $2.17. This movement aligns with overall market positioning following the shift in rate outlooks. The current price is near the apex, where lower volatility through consolidation before a breakout is indicated.

Meanwhile, expectations surrounding the Federal Reserve's monetary policy are shifting. The probability of a reduction in interest rates by the Federal Open Market Committee (FOMC) in the next scheduled meeting on September 17, 2025 has increased to 96.6%. This marks a strong shift in market expectations. Recent data shows a dominant 72.4% probability that the Federal Reserve will lower the federal funds target rate to 400–425 basis points. An additional 24.2% expect a deeper cut to 375–400 basis points. Only 3.4% forecast no change, while there are no expectations of a rate hike. The current target range stands at 425–450 basis points.

This shift in expectations could have implications for the broader cryptocurrency market, including XRP. A dovish Fed could lead to increased liquidity and risk appetite, potentially driving up the price of cryptocurrencies. The combination of the symmetrical triangle pattern and the shifting Fed expectations creates an interesting dynamic for XRP. Traders will need to carefully navigate these factors as they make their trading decisions. The breakout from the symmetrical triangle pattern will be a key event to watch, as it could provide a clear direction for XRP's price movement in the coming weeks.

Historical price action demonstrates excellent momentum from $0.74 to over $3.80, suggesting potential for major action. A breakout above $2.40 should initiate upside to $5.00–$7.50, and not holding $1.20 support could necessitate lower retests in the area of $0.74. Volume should be monitored very carefully by market participants to ensure confirmation of the direction of the breakout.