XRP's price has just broken through a descending triangle pattern – an important reversal signal marking a clear shift to a bullish trend. The breakout above the $2.36 threshold has consolidated bullish momentum, opening up possibilities for a strong and sustainable recovery in the near future.
Notably, a key technical indicator is currently issuing a buy signal, while the wave structure suggests the possibility of forming the 5th wave – often associated with strong growth phases. If this trend continues, XRP could very well reach the $6.39 mark in the near future.
The breakout of XRP's price triangle creates a bullish sentiment.
XRP's recent price action has created an impressive breakout from the descending triangle pattern – a technical pattern that often signals a positive trend reversal. According to analyst JackTheRippler, this structure forms after a series of lower highs, converging around a stable horizontal support area at $1.79 – which has held firm for several months.
Breaking out of this model not only shows that buying pressure is gradually gaining dominance, but also reinforces expectations of a new bullish cycle in the short and medium term.
An impressive breakout from the downward trend line, supported by a surge in trading volume, has marked a significant turning point in XRP's price action. The break above the key resistance level at $2.36 indicates that the upward momentum has been consolidated, opening up opportunities for a new growth phase.
This momentum is bringing XRP closer to the target price range of $2.5 to $3 – where previous resistance levels could pose significant challenges. However, the positive shift in market sentiment and increasingly widespread optimistic expectations within the trading community continue to support the potential for extending the bullish trend in the coming weeks.
The SuperTrend buy signal adds to the bullish case.
An important technical indicator – SuperTrend – has recently issued a buy signal, after XRP's price surpassed the key resistance level at $2.34. SuperTrend, which is considered a reliable momentum indicator, typically shifts to a bullish trend when the price exceeds the set stop-loss level, signaling that buying pressure is dominating.
This signal not only confirms the reliability of the recent breakout but also further strengthens confidence in the possibility of continuing the bullish trend in the short term. The indicator's state change has contributed to additional momentum for investors and reinforced the optimistic outlook for XRP's price in the near future.
History shows that buy signals from SuperTrend are often associated with prolonged bullish cycles, making its recent appearance particularly noteworthy for XRP. Analyst Ali Martinez notes that if the current uptrend is maintained, XRP could quickly reach the $3 mark before facing strong resistance at $4.
Wave 5 suggests a target of $6.39.
In addition to breaking out of the triangle and issuing a SuperTrend buy signal, analyst Dark Defender notes that XRP is likely in the early stages of forming the 5th Elliott Wave pattern. XRP weekly has a bullish setup according to Elliott Wave theory, suggesting that the current bullish trend may continue.
Not only that, analyst Dark Defender also presents an important technical viewpoint: XRP appears to be in the early stages of the 5th Elliott wave – a stage that often represents the peak of a bullish cycle. On the weekly chart, this wave structure is forming clearly, and if the model develops according to theory, the next potential target could reach $6.39.
Recent technical charts indicate that XRP has completed the 4th corrective wave around $2.07 – corresponding to the 38.2% Fibonacci retracement level. This is a common support area in the Elliott Wave model, and respecting this level further reinforces the outlook for the next bullish phase.
With the current recovery momentum, XRP seems to be entering the development phase of wave 5 – often the strongest growth phase. Based on the 200% Fibonacci extension, the price target for wave 5 is identified in the range of $5.85 to $6.39 – coinciding with historical resistance areas established since 2018.
Adding to this positive outlook, the RSI indicator on the weekly frame has just bounced off an important support line, indicating that bullish momentum is regaining dominance. The RSI breakout not only confirms the current momentum but also strongly supports the scenario of continuing the 5th wave in the near future.
XRP Price Outlook
XRP has the potential to enter a prolonged bullish cycle over several months if buying pressure continues to increase. However, the prerequisite for this scenario is the solid maintenance of the key support area around $2 – a crucial foundation for any sustainable advance in the future.
At the same time, market data shows that new momentum has been sparked after the SEC and Ripple reached an agreement. Specifically, XRP's trading volume surged by 139.38%, while OI (open interest) also recorded an increase of 15.76%, reflecting a noticeable recovery in investor confidence.
This development becomes even more notable as large funds from whales begin to accumulate XRP, helping the price to rise above the 50-day simple moving average (SMA 50) – a key technical signal indicating that the bullish trend is being reinforced. If the current uptrend continues, XRP could maintain strong growth momentum in the near future.
