XRP Breaks Out With 5% Rally, Targets $6 Following Triangle Resolution
XRP surged 5% over the last 24 hours, climbing from $3.46 to a session high of $3.64 before consolidating near $3.55. The rally was triggered by a decisive breakout from a long-standing symmetrical triangle pattern, confirmed by a 158 million token volume spike at 14:00 GMT.
Market Snapshot
- Daily Range: $3.46 – $3.64
- Breakout Confirmation: Triangle resistance breached at 14:00 GMT with 158M volume
- Support Zone: Now forming between $3.53 and $3.55
- Upside Target: Fibonacci extension points toward $6.00
Technical Overview
XRP’s breakout resolves a multi-year consolidation pattern, potentially marking the beginning of a larger upside move. Momentum remains strong, with RSI edging into overbought territory, yet reinforced by continued high-volume engagement.
- Immediate Resistance: $3.64
- Key Support: $3.55 (short-term), $3.46 (prior triangle base)
- Bullish Signal: Breakout accompanied by sustained volume and a clean structure
Macro Catalysts
The move aligns with broader market optimism following the advancement of key U.S. crypto bills—the GENIUS and CLARITY Acts—which add regulatory clarity. Additionally, the launch of the ProShares XRP Futures ETF signals growing institutional demand.
Forward Outlook
- Bullish Case: Holding above $3.55–$3.60 could set the stage for a retest of $3.84 and a potential extension to the $6 target.
- Bearish Risk: A drop below $3.55 could re-expose the $3.46 support level and delay upside momentum.
Traders remain focused on ETF flows, regulatory developments, and accumulation trends by large holders as potential drivers of the next directional move.
