XRP News Today: XRP Surges 5.19% Weekly, Technical Patterns Suggest Major Move

XRP, the cryptocurrency, is at a critical juncture as technical patterns suggest an imminent major move. Currently trading at $2.26, XRP has seen a 2.01% gain in the past 24 hours and a 5.19% increase over the past week, outperforming the broader market which saw a 0.90% rise. The trading volume has surged by 101.70% compared to the previous day, indicating a significant rise in investor interest.

Technical analysts are closely monitoring key support and resistance levels that could determine XRP’s next major direction. The cryptocurrency has been forming a descending triangle pattern since January 17, 2025, with a descending trendline acting as persistent resistance and an ascending support line indicating growing demand at higher price levels. This convergence of trendlines has created a tightening price range that typically resolves with significant movement. Analyst Dark Defender emphasized that XRP will likely decide its direction within the next two weeks as these technical levels intersect.

Crypto analyst EGRAG CRYPTO has outlined ambitious price projections for XRP, suggesting targets between $20 and $27 in what he calls “The Guardian Arch” scenario. EGRAG CRYPTO’s measured move analysis points to an initial target of $20, though he warns investors against waiting for single price points before taking profits. He also cautioned that following potential highs, XRP could experience an 86% correction similar to the 2021 bear market, potentially bringing prices back to around $3.00.

Technical indicators beyond basic chart patterns are aligning for potential upward movement in XRP price. Fibonacci extension levels identify key targets at $3.0283 and $5.8563, corresponding to 161.8% and 261.8% extensions, respectively. These levels align with Elliott Wave theory’s Wave 5 projection, suggesting XRP could be entering the final impulsive phase of its current cycle. The Relative Strength Index has been trending downward but now approaches a potential breakout zone. Additionally, the XRP price hovers near the upper boundary of the Ichimoku Cloud, where a break above would confirm a bullish trend reversal.

XRP’s recent performance has exceeded broader market benchmarks, with its 5.19% weekly gain surpassing the global cryptocurrency market’s 0.90% increase. The digital asset has also outperformed the Coinbase 50 Index cryptocurrencies, which remained flat over the same period. The trading volume of $2.54 billion in the past 24 hours reflects increased market activity and investor interest. This heightened attention coincides with the technical setup that analysts believe could catalyze significant price movement in either direction.