XRP breaks out of a descending triangle pattern as price surges to $2.4371 following Ripple’s $477M token transfer.
Despite large XRP whale movements, bullish momentum remains strong with no visible resistance above current price levels.
Ripple’s RLUSD stablecoin surpasses $500M in market cap, signaling growing ecosystem strength amid XRP's technical breakout.
Ripple’s XRP has surged past key resistance after a long consolidation, as bullish momentum builds following a massive $477 million transfer. On-chain data from Whale Alert confirmed Ripple moved 200 million XRP to an unknown wallet, while an additional $60 million in XRP was sent to Coinbase. These large-scale transactions have sparked speculation about potential sell-offs, even as XRP’s price action shows signs of a bullish breakout.
Bullish Breakout Follows Descending Triangle Pattern
XRP on Binance has broken above a descending triangle pattern that shaped its recent consolidation phase. The structure had upper resistance connecting lower highs, while horizontal support held firm at $1.9010. This repeated support level created a solid price floor. Every rejection from the upper trendline signaled weakening buyer strength. However, that dynamic has now shifted.
Consequently, XRP’s price soared past the triangle’s resistance and now trades at $2.4371. This move signals a clear shift in market sentiment. Buyers gained momentum after weeks of price compression, leading to a breakout marked by strong bullish candles.
Source: Gordon
Moreover, the pattern of higher lows leading up to the breakout showed consistent accumulation just below resistance. This accumulation reflected growing confidence among bulls. As a result, the descending trendline failed to hold, allowing XRP to rally.
No Immediate Resistance as Bulls Take Control
Interestingly, there’s no visible resistance above current price levels. This opens the door for further upside if buying pressure holds. Any pullback that stays above $1.9010 could confirm a successful retest and validate the breakout structure.
Significantly, this move comes as Ripple’s dollar-backed stablecoin RLUSD crosses a $500 million market cap. Launched less than eight months ago, RLUSD is now among the top 20 stablecoins globally. It’s backed by BNY Mellon custody and integrated with platforms like Transak and OpenPayd.
Additionally, traders are watching closely as large whale movements hint at possible institutional reshuffling. Despite fears of sell pressure, price action remains bullish, and technicals point toward further growth.
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