What to Know:
- XRP has broken out of a 7-year symmetrical triangle pattern, indicating significant bullish momentum.
- Analysts are eyeing potential future price levels based on Fibonacci extensions, with targets as high as $27.
- A spot XRP ETF could potentially launch soon, further fueling positive sentiment around the cryptocurrency.
XRP is currently trading around $2.51, demonstrating resilience after breaking a long-term symmetrical triangle pattern, a structure that had defined its price action for seven years. This breakout signals a potential shift in momentum, suggesting that XRP may be poised for further gains. Bullish developments, like regulatory clarity and potential ETF approvals, could further support the price.
Following the breakout, XRP has entered a consolidation phase between $2.00 and $3.00, which analysts view as a healthy accumulation range. The former resistance level now acts as a support zone, providing a solid foundation for future price advances. As long as XRP remains above this breakout zone, the macro structure remains intact, supporting continued upward movement.
£ $XRP broke out of a 7 year symmetrical triangle and has since been accumulating above the prior ATH candle closes & the prior highs from 2021 for nearly 12 months. Signalling significant strength and momentum. Tieing up with bullish developments and regulatory clarity = HIGHER pic.twitter.com/HurHJ77nTw
— ð ChartNerd ð (@ChartNerdTA) October 31, 2025
Fibonacci extensions point to potential future price targets of $8, $13, and even $27, drawn from past price activity and the height of the previous triangle pattern. These levels provide a roadmap for potential long-term growth, contingent on sustained bullish momentum. An ascending trendline and a 3-month exponential moving average continue to guide the market upward, reinforcing the positive outlook.
While the long-term outlook is bullish, short-term charts present mixed signals, with resistance seen at $2.75 and support at $2.27. Recent technical indicators have issued sell signals, and large holders have reduced positions, suggesting caution in the immediate term. However, renewed attention is focused on the potential launch of a spot XRP exchange-traded fund, with some suggesting it could go live as early as November 13.
XRP’s recent breakout from a multi-year pattern, coupled with potential ETF developments, paints a promising picture for the cryptocurrency. While short-term volatility is expected, the overall sentiment remains cautiously optimistic, contingent on maintaining key support levels and positive regulatory developments. As the market evolves, investors will be closely monitoring these factors to gauge XRP’s trajectory.
Source: Original article
