XRP nears a breakout as it tests resistance at $2.40, supported by rising RSI momentum and bullish Elliott wave projections.
Fibonacci and Ichimoku levels hold firm, signaling accumulation; a potential bull flag breakout could target $5 if volume strengthens.
Market eyes June 13 for legal clarity, as XRP's rally hinges on technical setups and regulatory outcomes; $2.15 support remains pivotal.
XRP is approaching a key technical inflection as it tests a confluence of weekly resistance levels and compression zones. Price movement and oscillator behavior suggest rising momentum, with analysts closely monitoring a breakout above $2.40.
Chart Formations Align Toward Bullish Continuation
XRP’s weekly chart structure is closing in on a decisive breakout moment after months of compression within key resistance zones. Multiple technical signals, including Fibonacci levels, Ichimoku support, and RSI behavior, suggest that upward momentum is building. Market watchers now weigh the probability of a multi-wave rally driven by pattern validation.
Source: Post on X
At this point in the structure, the weekly candle sits just under a descending orange resistance trendline that has held since 2024. The analysis highlights that XRP is now testing this line while remaining above the Ichimoku cloud, which has begun acting as dynamic support. Notably, the 50% and 70.2% Fibonacci retracement levels at $2.0076 and $2.2885 are holding firm—zones historically known for signaling accumulation ahead of major moves.
To support this thesis, a five-wave Elliott setup projects Wave 3 at $3.1999 and Wave 5 peaking at $6.8653. Likewise, others deem this to be a pivotal moment and go on to say that further developments are inevitable. The RSI has broken its long-term downtrend while printing a bullish divergence, further validating the potential for a directional shift. This crossover of momentum and structure may serve as the trigger that sets XRP’s next trend in motion.
Bull Flag Buildout Indicates Measured Upside Target
The alternate formation, a classic bull flag, adds a second layer of confirmation as XRP coils under the $2.5 mark. Analysts watching this pattern note its structural consistency and flagpole potential, projecting a breakout toward $5.00 if resistance fails.
Source: Post on X
As price retests the upper resistance of the symmetrical flag, it remains above $2.00 with higher lows intact. The analyst outlines a calculated breakout using the vertical length of the pole, which measures from sub-$0.50 lows to the recent $2.50 range. The resulting projection lands at $5.00, provided the breakout occurs with notable volume. What’s more, the confluence between both wave and flag structures enhances the reliability of this target.
Traders remain cautious in the absence of strong volume confirmation. While several indicators align for bullish continuation, market conviction hinges on confirmation candles and breakout strength.
Market Speculation Grows Ahead of June Legal Milestones
Amid technical setups, sentiment on X has shifted rapidly as XRP faces a pivotal regulatory window in June. Community discussions reflect both growing confidence in technical setups and heightened sensitivity to legal news flow.
Recently, XRP slipped to $2.20 following delays in the ongoing SEC case, with legal motions now due by June 16. Observers on X point to June 13 as a potential turning point, with rumors of a pro-Ripple settlement circulating widely. This has led to an 8.8% weekly decline, with $2.15 emerging as key support and $2.32 as nearby resistance. Some traders are actively buying within the $1.95–$2.05 range, treating the dip as an opportunity within a larger bullish thesis.
This reaction underscores how sentiment and price action are increasingly intertwined. The crypto market is filled with dynamic changes that are constantly affecting outcomes. While charts lean bullish, observers know that legal outcomes could still shift the path forward.
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