Peter Smith
XRP has been trading sideways recently, forming what technical analysts recognize as a classic consolidation pattern. This phase of price stability often precedes major price movements, making it a critical time for traders to monitor key levels and prepare for potential breakouts.
XRP Price Consolidates in a Triangle
XRP is currently trading at $2.98, maintaining stability following its recent rally. The price action reveals a symmetrical triangle pattern—a textbook consolidation setup that typically signals an impending breakout.
Trader @Crypto_Scofield notes that while XRP may need several more days to gather momentum, any eventual breakout could be both powerful and swift once it occurs.
The daily chart shows XRP successfully holding support at $2.85, a level that has withstood multiple tests without breaking down. A decisive move above the descending resistance around $3.20 would signal bullish momentum and potentially open the path to $4.00 and higher targets.
However, if XRP falls below the $2.85 support, it would undermine the bullish outlook and could trigger a pullback to the $2.55–$2.60 support zone.
XRP Price Outlook for the Coming Days
The $2.85–$3.20 range remains the most crucial area for traders to monitor. A confirmed breakout above $3.20 would likely spark increased buying interest and drive XRP toward higher Fibonacci targets. Should this breakout occur, medium-term price targets of $4.63 and $5.67 become realistic possibilities.
Patience remains essential—XRP is in a consolidation phase, and significant moves typically emerge from such quiet periods.
Peter Smith
