XRP Approaches Breakout Point as Analysts Track Key Levels

• XRP forms Elliott Wave triangle, with possible breakout toward $3.90 depending on resistance at $3.05–$3.15.
• Market analysts see $2.655 as crucial support, while short-term strength hinges on holding above $3.10.

XRP has entered a major stage in its market structure after weeks of shifts between support and resistance levels. According to our previous report, technical analysts report that the token is forming a contracting Elliott Wave triangle, a setup that could determine its next big move. The pattern follows a series of highs and lows since XRP reached $3.66 in mid-July, with the price now pressing against key resistance areas.

Market strategist Matthew Dixon outlined the formation of five waves within the triangle since July’s peak. Wave (A) took shape at $2.72 in early August, followed by wave (B) at $3.38 later that month. A third wave, labeled (C), bottomed at $2.70, while wave (D) developed at resistance near $3.05. Dixon identified the final wave (E) as a possible pullback zone near $2.655, though he noted the possibility of a breakout without further decline.

Two near-term outcomes remain in focus. In one scenario, XRP could pierce resistance and move toward $3.90, representing almost 30% growth from recent levels. In another, the asset may retreat to the $2.655 support zone before resuming an upward push toward the same $3.90 target, offering nearly 47% upside from that base.

Resistance, Support, and Indicators

Supporting data shows the relative strength index (RSI) at approximately 57, placing XRP in neutral zone with room to shift in either direction. Analysts identified resistance between $3.05 and $3.15 as the immediate barrier, while $2.655 remains the crucial support level.

EGRAG Crypto highlighted a symmetrical triangle visible on higher timeframes, suggesting equal chances for bullish or bearish resolution. He noted that a close above $3.077 to $3.13 on the three-day chart, combined with reclaiming the 21-period simple moving average, would favor a bullish outcome. Conversely, he warned that a breakdown below $2.55 would indicate structural weakness.

On shorter charts, EGRAG highlighted an ascending triangle on the four-hour timeframe, requiring XRP to hold above $2.973 to preserve momentum. Interim support levels were identified at $2.957, $2.912, and $2.85, with a target of $3.12 if conditions hold.

Other perspectives emphasize different thresholds. Analyst Casi Trades argued that XRP has already exited consolidation, with $3.00 now acting as support. She set immediate resistance at $3.08 and $3.27, while projecting a move above $3.25 could open the path toward $4.50. In her outlook, the $3.66 level is likely to be retested as part of that trajectory.

Market Performance and Outlook

As of press time, XRP traded at $3.16, marking a 3.65% gain in 24 hours. Market capitalization reached $188.59 billion, ranking it as the third-largest cryptocurrency. Its fully diluted valuation stood at $316.38 billion, with 59.61 billion tokens circulating out of a maximum supply of 100 billion.

Trading data showed XRP opened near 3.05 before briefly dipping below that level. A rebound in the evening session accelerated into the morning, lifting the price above $3.15 for the first time in weeks. The rally occurred alongside a slight decline in trading volume to $6 billion, down 0.43% from the prior day, suggesting accumulation under reduced selling pressure.