- XRP holds strong support near $2.07–$2.10, crucial for preventing further downside pressure.
- Breaking $2.19–$2.20 resistance could trigger rallies toward $2.25 and $2.65 targets soon.
- A triangle pattern and 5% rise in Ripple Futures Open Interest signal a major breakout.
XRP is flashing bullish signals but remains confined within a narrow trading band. Following a bounce from $2.07, the cryptocurrency is encountering stiff resistance near $2.19–$2.20. This level proved difficult during previous attempts, making it a crucial barrier XRP must surpass for any significant upward movement.
Currently, XRP sees strong buyer interest between $2.07 and $2.10. This zone has prevented further downside recently, offering solid support. To the upside, Ripple must break through the $2.19–$2.20 resistance range. If successful, the next logical targets lie around $2.24 to $2.25, potentially unlocking stronger bullish sentiment.
A break above the $2.30–$2.35 area would mark a clear bullish shift. Such a move could allow Ripple to rally toward the $2.60 level, possibly testing prior highs. However, market momentum remains muted, as overall crypto sentiment lacks decisive direction, keeping traders in wait-and-watch mode.
Analysts argue that if bulls can maintain control above this support, XRP could emerge as a leader in the next altcoin rally. Market focus now lies in whether Ripple can flip $2.20 into support.
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Traders Eye Breakout Toward $2.25–$2.65
The $2.07 zone remains key, supported by Fibonacci retracements and Elliott Wave structure. A recent rebound from $2.145 after pulling back from $2.40 fits into a classic Wave 5 setup, historically tied to significant price climbs. Traders view this as a bullish inflection point for XRP price movement.
With the 0.618 Fibonacci level and a 1:1 wave extension in play, analysts call it a textbook reversal zone. Sustained strength above $2.07 could propel Ripple toward $2.25 and even $2.65. Holding this level adds weight to bullish scenarios over the coming weeks, especially if volume begins to build.
XRP Triangle Pattern Signals Upcoming Breakout
Top strategist EGRAG CRYPTO drew a triangle pattern that on historical data, signals a breakout between the July and mid-September period. He had a scenario of Ripple rising to $17.50, with a niche of the market on their well-behaved side from $10-15 that was very bullish and has happened in the course of the recent cycle.
CoinGlass data shows that a 5% increase in Ripple Futures Open Interest, indicating trader confidence. The setup mirrors past XRP rallies, where brief dips preceded sharp moves upward. The dip is due to traders who are trying to liquidate their Ripple holdings just before the gallant rally. As traders continue to accumulate, the stage appears set for a potentially explosive XRP rally in the weeks ahead.
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