- XRP is trading near $2.60, with analysts watching for a potential breakout above $2.77
- Technical indicators and RSI trends show increasing buying pressure with higher lows being established
- A cup and handle pattern has formed on the daily timeframe, suggesting a possible 20-30% surge upon breakout
- Analysts predict potential targets ranging from $3 to $67, though short-term pullbacks may occur
- A symmetrical triangle pattern on the 1-hour chart indicates a possible 14% upswing to around $3
XRP is currently trading near a critical resistance level of $2.60, as multiple technical patterns suggest a possible breakout in the coming days. The digital asset’s price movement has caught the attention of market analysts who are closely monitoring several key technical indicators.
The immediate resistance level stands at $2.60, followed by $2.77, which analysts identify as a crucial breakout point. If the price manages to break above these levels, it could trigger a continuation of the upward movement. The current support level remains at $2.33, providing a safety net in case of any short-term pullbacks.
Technical analyst Dark Defender has observed that XRP is establishing higher lows in its price action, indicating increased buying pressure in the market. This pattern of higher lows suggests that buyers are becoming more active and willing to enter positions at progressively higher price points.
Hi all. #XRP reached another decision point where $2.6052 plays a crucial role. Above this level and significantly above $2.77, the 2nd leg of the bullish weekly structure is expected to continue.
RSI and price have higher lows, so we can expect a positive break. The key is to… pic.twitter.com/WDdgHPpGD6
— Dark Defender (@DefendDark) February 23, 2025
The Relative Strength Index (RSI), a popular momentum indicator, mirrors this bullish sentiment. The RSI trendline has been creating higher lows, which typically signals growing demand for the asset. This technical indicator adds weight to the possibility of an upward price movement.
Cup & Handle?
A cup and handle pattern has emerged on the daily timeframe, as identified by analyst Thom Sieloff. This technical formation is often considered a bullish continuation signal. The pattern shows XRP consolidating between $2.40 and $2.70, forming what traders call the handle portion of the structure.
Traditionally, a stock or crypto (like $XRP) forming a cup and handle pattern may increase by 20-30% from the breakout point, based on the depth of the cup projected upward from the resistance level, potentially targeting around $3.36 (a ~25.37% increase from $2.68) in this case.…
— Thom Sieloff (@RealThomSieloff) February 21, 2025
The breakout point for the cup and handle pattern is expected around $2.68 to $2.70. Historical data suggests that this pattern typically leads to a 20-30% price increase when confirmed. Based on these projections, XRP could potentially reach $3.36 if the pattern plays out as expected.
On the hourly timeframe, analyst Ali Martinez has identified a symmetrical triangle pattern. This formation consists of a falling upper trendline connecting the swing highs and a rising lower trendline along the swing lows. Martinez suggests this pattern could lead to a 14% upward movement, potentially pushing XRP toward the $3 mark.
$XRP is preparing for a 14% price move! pic.twitter.com/iTfGBj7Mmt
— Ali (@ali_charts) February 22, 2025
Some analysts have presented more ambitious price targets. Egrag Crypto predicted that XRP could reach $67 if certain higher levels are broken. However, the same analyst cautioned followers about a possible short-term pullback to $0.90 before any major upward movement.
#XRP Short-Term & Long Terms Price Targets ( $4-$6 and $33-$60)
⚪️Short-Term:#XRP current price action is trading at $2.67, showing a strong bullish move but facing resistance at the red horizontal zone (~$2.75-$2.83-$2.910 and $3.00).
◻️Resistance & Breakout Levels:
▫️The… pic.twitter.com/9Lp6zEsi3p— EGRAG CRYPTO (@egragcrypto) February 21, 2025
As of the latest market data, XRP is trading at approximately $2.55, showing a 1% decline over the past 24 hours. The asset has experienced a 10% decrease in value over the past week, according to data from CoinGecko.
Market participants are watching for specific confirmations of these bullish patterns. Traders typically look for at least two candlesticks closing above the upper trendline to confirm a bullish breakout from the symmetrical triangle pattern.
The cryptocurrency’s price has shown resilience despite ongoing regulatory oversight from the SEC. While regulatory concerns continue to influence the broader market sentiment, XRP has demonstrated an ability to recover from past regulatory challenges.
Institutional interest in digital assets has been growing, as evidenced by recent developments such as discussions around the MicroStrategy ETF. These market dynamics could potentially influence XRP’s price action.
The broader altcoin market’s performance may be tied to Ethereum’s price action. Analysts have noted that the altcoin season could face challenges if Ethereum fails to maintain its support at $2,600. A drop below $2,425 could lead to further market declines.
Current resistance levels for XRP are established at $2.60, $2.85, and $5.85 for the long term. These price points represent key areas where selling pressure might increase and require additional buying volume to overcome.
