XRP Breaks Six-Year Triangle with Short-Term Price Target of $6

XRP rallied 5% in the latest 24-hour session, climbing from a low of $3.46 to peak at $3.64 before stabilizing near $3.55. The breakout at 14:00 GMT was backed by a massive volume spike of 158 million units, signaling a textbook symmetrical triangle break and confirming bullish short-term momentum.

What to Know

• XRP surged 5%, trading between $3.46 and $3.64 before consolidating around $3.55.
• A 158 million volume spike at 14:00 GMT validated the breakout above triangle resistance.
• The move confirms completion of a six-year symmetrical triangle, projecting a Fibonacci target near $6.00.

News Background

Momentum picked up as U.S. lawmakers advanced major crypto bills—like the GENIUS and CLARITY Acts—boosting regulatory clarity. Additionally, the launch of the ProShares XRP futures ETF marked a significant step in institutional adoption.

Price Action Summary

• Range: $3.46 → $3.64, marking a 5% gain and a 4.7% intraday range on the CD20 index.
• Key moves: Breakout at 14:00 GMT to $3.64 on high volume; pullback to $3.55, forming a fresh support zone.
• Final hour (01:09–02:08 GMT): XRP rose 1.14%, breaking above $3.53 on a 4.3 million volume spike then consolidating at $3.54.

Technical Analysis

• Pattern: Symmetrical triangle resolved decisively, with resistance now at $3.64 and support consolidating at $3.55.
• Volume Profile: Explosive 158 million spike confirms breakout; follow-up volume maintains strength.
• Targeting: Fibonacci extension points to $6.00, nearly doubling the current level.
• Momentum signals: RSI may flirt with overbought territory, but breakout volume keeps bias tilt bullish.

What Traders Are Watching

• Bull case: Sustained hold above $3.55–$3.60 could trigger a retest of $3.84 and move toward the $6.00 Fibonacci target.
• Bear case: Failure below $3.55 could revert XRP to triangle support near $3.46, risking a fresh retest of that level.
• Catalysts: Continued ETF flows, regulatory headlines, and whale accumulation patterns will be key to momentum.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.