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Key Takeaways
<ul>
 <li>XRP forms Elliott Wave triangle, with possible breakout toward $3.90 depending on resistance at $3.05–$3.15.</li>
 <li>Market analysts see $2.655 as crucial support, while short-term strength hinges on holding above $3.10.</li>
</ul>
XRP has entered a major stage in its market structure after weeks of shifts between support and resistance levels. According to our previous <a href="https://www.crypto-news-flash.com/analysts-say-xrp-rally-has-yet-to-begin/" rel="noopener noreferrer nofollow">report</a>, 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.
<h2 id="header-0">Resistance, Support, and Indicators</h2>
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 <a href="https://x.com/egragcrypto/status/1965757168759578860" rel="noopener noreferrer nofollow">highlighted</a> 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 <a href="https://x.com/CasiTrades/status/1965811708238114899" rel="noopener noreferrer nofollow">argued</a> that XRP has already <a href="https://www.crypto-news-flash.com/xrp-price-outlook-2033-can-ripple-unlock-18-9t-and-triple-digit-gains/" rel="noopener noreferrer nofollow">exited</a> 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.
<h2 id="header-1">Market Performance and Outlook</h2>
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.

XRP Approaches Breakout Point as Analysts Track Key Levels

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