$XRP XRP (XRP) continues to trade sideways between $2.85 and $2.30 as the US Securities and Exchange Commission (SEC) acknowledges a slew of XRP ETF filings. XRP price rebounded above $2.60 recently as several analysts highlighted the importance of breaking the $2.75-$2.80 area next.

XRP/USD daily chart. Source: Cointelegraph/TradingView

XRP price ascending triangle targets $3.20

Egrag Crypto, an XRP market analyst, highlighted that XRP was trading within an ascending triangle in the 12-hourly timeframe, as shown in the chart below.

According to the analyst, the price needs to “close above the apex” of the prevailing chart pattern at $2.75 to “continue the upward trajectory.”

“Closing above this level will provide bullish confirmation to continue the upward trajectory, with a measured target of $3.20.”