The price of XRP is heating up this week. After a sharp 10% surge and reaching a monthly high of $2.47, a strong bullish technical pattern has emerged that could fuel further gains toward the $3 level โ or beyond. Adding fuel to the fire, a major crypto whale just opened a $5 million long position on XRP.
๐ XRP Breaks Resistance, Bullish Setup in Place
XRP is currently trading at $2.38, slightly below the weekend high. On the chart, an inverse head-and-shoulders pattern is taking shape โ a classic indicator of a potential trend reversal from bearish to bullish.
Notably, XRP has already broken above the neckline of this pattern, often a sign that a new upward leg is beginning. If bulls hold momentum, the next target is between $3.00 and $3.04. If that breakout succeeds, the token could make a move toward its previous all-time high at $3.40.
๐ Technical indicators are aligning:
๐น RSI stands at 61, showing steady bullish momentum
๐น MACD continues to post higher highs above the zero line, further confirming upward strength
Support at $2.23 remains crucial โ a drop below this level could invalidate the bullish structure and trigger a reversal.
๐ Whale Opens $5M Long Position on XRP
On-chain data shows that large investors remain confident. One major wallet recently deposited $5.84 million in USDC on the HyperLiquid platform and opened a 2x leveraged long position on XRP โ signaling strong belief in the tokenโs upside potential.
๐ Additional Coinglass data confirms:
74% of traders on Binance are holding long positions in XRP
Open interest is rising, indicating growing trader activity around the token
๐ Will XRP Break $3 This Week?
All signs point to yes.
๐น The inverse head-and-shoulders pattern has been confirmed
๐น RSI and MACD support continued bullish movement
๐น Whales and retail traders are backing the uptrend
If XRP can stay above the $2.23 support level and avoid wider crypto market corrections, a breakout above $3 could happen this week. And if momentum holds, a return to the all-time high at $3.40 may soon be within reach.
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