XRP News Today: XRP Price Surges 700% in 2024 Breakout, Targets $3.40

XRP, the cryptocurrency associated with Ripple, is currently exhibiting strong bullish signals, with technical indicators suggesting a potential breakout. The price of XRP is currently hovering around $2.25, forming a clear ascending trendline since late June. This trend is supported by a bullish engulfing candle and a rising Relative Strength Index (RSI) that sits near 60, indicating there is still room for upward movement without entering the overbought zone.

The 50-day Simple Moving Average (SMA) at $2.2175 has transitioned from resistance to support, further bolstering the bullish outlook. The immediate target for the price action is $2.285, and if this level is breached with strong volume, technical targets extend to $2.337, $2.406, and eventually $2.47. This price behavior mirrors the build-up before XRP’s significant breakout in 2024, when it surged from $0.60 to over $2.00 in a matter of weeks. That rally was preceded by a long-term symmetrical triangle that compressed for nearly seven years before unleashing a 700% move. A similar formation now suggests that $2.65–$3.40 could be realistic upside targets in the near term.

The technical setup is forming a textbook inverse head-and-shoulders pattern, with the neckline at $2.33. Crypto analysts place significant weight on this level, identifying it as the trigger for a potential rally toward $2.60, and later $3.40, if volume follows price. This structure indicates that XRP is respecting horizontal support while pushing into descending resistance. A clean breakout here could unlock the start of a new macro leg higher.

XRP/BTC is now on its fifth attempt to breach a key resistance zone. The pair has failed four previous breakout attempts, each time being rejected at the same horizontal level. Despite prior rejections, XRP continues to approach this resistance with momentum. The persistent tests suggest rising bullish pressure. If successful, the breakout could drive XRP/BTC toward the 0.000065 BTC mark. The chart includes a red supply zone above, with Fibonacci retracement levels mapping possible resistance ahead. Analysts see this level as a potential turning point in XRP’s ongoing BTC downtrend.

Ripple has announced the integration of Wormhole into the XRP Ledger to enhance its cross-chain functionality. This move expands XRPL’s reach across leading blockchain ecosystems. The partnership brings Wormhole’s messaging layer to the XRPL, supporting multichain communication and interoperability. Robinson Burkey, Co-founder of the Wormhole Foundation, stated that the integration opens new possibilities for institutional and real-world asset adoption. He also cited XRPL’s role as a key infrastructure in enterprise blockchain finance. Ripple aims to position XRPL as a regulated, interoperable foundation for the growing digital asset landscape. This integration could attract broader institutional interest and improve XRPL’s relevance in multichain development.

XRP is currently respecting strong support at $2.2175, with lower levels at $2.146 and $2.08. Upside resistance sits at $2.285, $2.337, and $2.406. The current trade setup favors breakout buyers looking to enter around $2.27–$2.29, with stop-losses below $2.21. Indicators back the move: On-Balance Volume (OBV) is rising past 7.73B, the RSI has turned bullish, and price is hugging the ascending trendline. Volume is coiling, and candle structure suggests a breakout is imminent.

XRP’s chart is tightening while Bitcoin (BTC) tests an 8-year resistance line. If BTC clears this macro level, capital will rotate fast into high-utility altcoins—XRP is first in line. XRP’s multi-week coil mirrors the 2021 pre-breakout period and could snap upward once Bitcoin confirms strength. Traders watching BTC’s move should keep XRP on alert.

Legal uncertainty around XRP is no longer a barrier. U.S. courts have confirmed XRP is not a security in retail sales, giving the green light for financial institutions to use it without fear. This removes the overhang that shadowed XRP for over two years—and opens the door to XRP ETF speculation. Institutional inflows, which were on pause due to legal murkiness, may now resume. The case for XRP is once again rooted in fundamentals, not legal drama.

XRP has been consolidating between $2.00–$2.40 for seven months, a move similar to the 2018–2020 coil that preceded the 2021 rally. Price action is compressing again, and Bollinger Bands are narrowing. Indicators suggest we’re at the edge of a move. A clean break above $2.33 with volume could mean upside into $2.71, then $3.00, and if momentum is strong enough, $3.40 to $6.00 is in play.

While Remittix has gained buzz for offering live deposit-to-bank functionality, it’s still a startup compared to XRP. Yes, it raised $15.9M and sold 547M tokens, but XRP already has real corridors live and running at scale. Until Remittix clears regulatory hurdles and proves volume traction, XRP maintains the throne in payment utility. However, competition is heating up—and Ripple must accelerate adoption or risk ceding ground.

XRP is now aligned across every major axis: technical, macro, fundamental, and utility. The breakout pattern is confirmed, and XRP is technically and fundamentally positioned for a parabolic move. The buy zone is $2.20–$2.29, with targets at $2.65, $3.40, and $6.00. Support levels are $2.08–$2.22, and the stop loss is below $2.08. The verdict is a strong buy, as the breakout structure is complete, and XRP is positioned for significant upward movement.