XRP News Today: XRP Surges 4% on Six-Year Triangle Breakout, Eyes $6 Target with 75% Gains

XRP’s recent price action has drawn significant attention from analysts and investors as technical indicators align with bullish projections. The token closed near $3.51 on July 23, having gained 4% within 24 hours following a breakout from a six-year symmetrical triangle pattern. This breakout, observed between $3.42 and $3.57, coincided with heightened trading volume—106.4 million units during the 17:00-18:00 window, 52% above the 24-hour average of 70.1 million. The move pushed prices toward the session high of $3.57 before encountering selling pressure in the final hour, which limited further gains [1].

Technical analysis suggests a potential rally toward $6, with the symmetrical triangle pattern projecting a measured target of $6.03 and a 75% gain from current levels. A four-hour chart indicates XRP is forming a bull pennant pattern, which, if confirmed by a close above $3.46 resistance, could target $5.80—a 67% increase. Analysts highlight that institutional buyers remain active, with 90-day spot taker volume delta showing sustained demand despite 99% of XRP holders being in profit [1].

The U.S. Congress’s advancement of the GENIUS and CLARITY Acts has reduced regulatory uncertainty surrounding XRP’s security classification, a long-standing concern for investors. Concurrently, ProShares launched the first XRP futures ETF, marking a milestone for institutional adoption. These developments, combined with the technical breakout, have spurred analyst forecasts of a $6 price target, with some extending projections to $15 based on broader market conditions [1].

Cross-asset correlations also play a role in XRP’s outlook. Analysts note that if Bitcoin reaches $144,000, XRP could trade within the $6–$10 range, leveraging the broader crypto market’s upward momentum [6]. Short-term momentum remains critical, with the $3.66 level serving as a key resistance point for further gains. Failure to hold above $3.61 could undermine the $6 target, according to multiple reports [5].

Market sentiment is further supported by a multi-month triangle breakout, which cleared key resistance and signaled a new bullish phase. Projections range from $4.20 to $6.12, with analysts emphasizing the need for sustained volume and price action above $3 to validate the trajectory [7]. While some speculative forecasts, such as a $22 target for 2025, exist, these scenarios remain contingent on macroeconomic factors and broader crypto adoption [9].

The convergence of technical patterns, regulatory clarity, and institutional activity underscores growing optimism for XRP. However, market participants are advised to monitor Bitcoin’s performance and XRP’s ability to maintain momentum above $3.61, as these factors will determine the likelihood of achieving the $6 target in the near term [5].

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