XRP is currently trading near $3.01, up about 2.07% in the past 24 hours, and eyes are on a possible breakout after weeks of sideways motion. With a market cap approaching $180 billion, XRP remains one of the major players in the crypto space.
The token has been building inside a symmetrical triangle since July, a formation marked by converging highs and rising lows. This pattern often precedes decisive moves. The fact that XRP has recently closed above $3.00 hints that bulls may finally be gaining the upper hand.
From a technical standpoint, the 50-day SMA at ~$2.93 offers immediate support, while the 100-day SMA at ~$2.63defines the longer-term trend. A daily close above $3.12 would likely confirm a breakout, potentially opening paths toward $3.38, $3.67, and even $3.95.
Recent candlesticks include a bullish engulfing pattern near $2.93, signaling renewed buyer interest. The RSI (~54)suggests there’s room for the rally to continue before hitting overbought territory. Consistent higher lows above $2.93 would strengthen the bullish case heading into November.
Still, the outlook remains cautious until a confirmed breakout materializes. If XRP fails above $3.12, it may retreat toward $2.72, the lower boundary of the triangle. But as long as the structure holds, the broader bias leans bullish.
For traders, the preferred play is to go long on a confirmed close above $3.12, targeting $3.38 and $3.67, with stops just below ~$2.92. With volume beginning to tighten and sentiment improving, a big move could be imminent—one that might propel XRP toward $3.95, especially with institutional interest and confidence in Ripple’s vision supporting the trend.
Important Phrases
- Symmetrical triangle setup since July
- Daily close above $3.12 → confirmed breakout
- 50-day SMA (~$2.93) and 100-day SMA (~$2.63)
- Bullish engulfing near $2.93
- Supports: $2.72 (triangle bottom)
- Targets: $3.38, $3.67, $3.95
- Higher lows strengthen bullish view
Fact-Check Summary & Currency of Info
This article’s snapshot is broadly consistent with many current public data points and technical narratives, but there are caveats and speculative elements:
- The live price of XRP around $3.01 is close to what major aggregators show (CoinCodex lists ~$3.01)
- The market cap figure (~$180 billion) aligns with metrics from sources like CoinCodex
- The claim that a daily close above $3.12 would confirm a breakout is a technical interpretation, not a certainty
- Technical supports (50-day SMA at ~$2.93, 100-day at ~$2.63) are plausible levels but should be verified via charting tools
- The downside target at $2.72 is drawn from the triangle’s lower boundary — plausible but not guaranteed
- The projection to $3.95 is speculative and assumes favorable conditions, volume, and continuation
- The narrative implies rising sentiment and institutional interest supporting the move; such flows are harder to verify concretely
Overall, much of the setup is timely and backed by recent price structure, but the breakout targets and inferred bullish strength should be taken as educated forecasts, not guaranteed outcomes.
