XRP nears breakout as Cup Surface, EMAs, and trend lines converge at $2.16 price level.
Analysts target $2.22–$3.61 upside; key support rests at $2.0706 amid rising pressure.
Canada’s XRP ETF launch and SEC decision add regulatory momentum to bullish technical setup.
XRP is approaching a major technical point, with price action nearing the intersection of trend lines, the Fibonacci level, and the Cup Surface. The asset, now trading at $2.16, is showing compressed movement between Exponential Moving Averages and a tightening trend line, which could signal an upcoming breakout.
Tight EMAs and Converging Patterns Point to Imminent Move
According to an analysis prepared by Dark Defender via X, XRP is “about to remove the tension soon.” The convergence of technical indicators, including trend lines and the Cup Surface has created a structure where a shift may happen quickly.
https://twitter.com/DefendDark/status/1935445900689543239
The Cup formation has been described as “hot,” indicating rising pressure within the setup. XRP has remained within a wide consolidation zone of $1.90 to $2.90 for nearly 200 days. During this time, the asset has attempted several breakouts but has returned to the range.
Analysts now identify short-term price targets at $2.22 and $3.61, while $2.0706 remains the key support area if a retracement occurs. The pattern suggests price compression, which can often precede sharp movement.
Historical Pattern and ETF Developments Maintain Upward Focus
Crypto traders have compared XRP’s current structure to past breakout scenarios. XRP previously saw a strong rally following a long consolidation. The altcoin is breaking a multi-year downtrend that aligns with similar movements seen before major price increases.
Solberg Invest also stated via X, “XRP broke downtrend, now consolidating,” and affirmed a $4.50 target unless price falls below $2.1655. On the regulatory front, attention remains on the pending decision by the U.S. SEC regarding Franklin Templeton’s XRP ETF.
Meanwhile, Canada’s Purpose Investments launched North America’s first spot XRP ETF on June 18, offering regulated exposure to XRP. Traders and analysts are now watching closely as technical and regulatory factors align.
The post XRP Is ‘About to Remove the Tension’: Converging Cup Surface and EMAs Signal Looming Price Decision appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
