- XRP surges to $3.04 on, breaking a descending triangle for a potential 18% rally to $3.60 amid institutional buying.
- Bullish pennant on daily charts targets $4.20 short-term and up to $11 midterm, fueled by Ripple’s payments ecosystem growth.
- Traders eye $2.98 support; a hold could validate $5 year-end goals, but volatility warns of September pullbacks.
In the ever-volatile world of cryptocurrencies, XRP is stealing the spotlight once again. Ripple’s native token is trading at $3.04, marking a modest rebound from yesterday’s dip to $2.98, with a market capitalization soaring to $181 billion and 24-hour trading volume hitting $5.25 billion.
This surge follows a decisive breakout from a multi-week descending triangle pattern—a classic bullish reversal formation that has traders buzzing about the next leg up. The catalyst? A wave of institutional inflows that’s transforming XRP from a regulatory battleground into a payments powerhouse. Late last week, XRP shattered the $3.05 resistance level, propelled by heightened whale activity and on-chain metrics showing accumulation at key supports.
Analysts point to a bullish pennant consolidation on the daily chart, formed since the July peak of $3.66, as the setup for a “big move” that’s now loading. If volume confirms the breach, short-term targets cluster around $3.60, with midterm projections stretching to $4.20 and even $11 in a euphoric cycle extension.
This isn’t just technical poetry; real-world tailwinds are aligning. Ripple’s ongoing partnerships in cross-border remittances, coupled with broader tokenization trends—like Fosun Wealth’s $328 million Sisram Medical share experiment on multiple blockchains underscore XRP’s utility in bridging TradFi and DeFi.
Yet, caution lingers: September’s historical volatility could trigger a pullback if $2.98 support falters, potentially testing $2.90 before rebounding. Skeptics eyeing a “make-or-break” moment at $3 warn that ambitious $5 Christmas calls might hinge on sustained momentum.
On X (formerly Twitter), the sentiment echoes this optimism. Influencer @TheCryptoSquire
highlighted the descending triangle breakout, drawing over 2,000 views in hours, while @SevenWinse
noted bulls defending $3 amid green candles and bullish moving averages. As one analyst quipped, “The coil is ready to spring—if volume confirms, this could be the shift XRP holders crave.”
For Web3 enthusiasts, XRP’s resurgence isn’t mere speculation; it’s a testament to resilience post-SEC woes. With two bullish scenarios on the table $8 to $11 targets as the cycle nears completion investors are wise to watch RSI for overbought signals while stacking on dips.
In a market where Bitcoin’s shadow looms large, XRP’s 55% rally potential from the recent flag breakout positions it as an altcoin alpha play. As consolidation tightens, the question isn’t if XRP breaks higher, but how high. Patience may be the final setup, but the charts scream opportunity.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
