Peter Smith
XRP (Ripple) is once again drawing attention from traders and analysts as its price coils within a classic consolidation pattern. With months of sideways movement narrowing into a triangle, the stage may be set for a significant breakout.
XRP Builds Pressure Inside Symmetrical Triangle
The XRP (XRPUSD) chart shows a clear symmetrical triangle pattern forming since its surge in late 2024. Traders are closely watching this consolidation, anticipating a breakout that could define XRP’s next major move. As of now, XRP is trading near the $1.90–$2.00 range, with strong resistance set between $2.10 and $2.20.
XRP is “patiently waiting for the break out.” The price structure suggests that a breakout, particularly to the upside, could trigger a rapid move toward $2.80 or even $3.00 in the coming weeks.
Elliott Wave Pattern Suggests Uptrend Continuation
The technical chart includes an Elliott Wave structure, currently in its wave (E) phase, nearing completion of the triangle. If wave (F) confirms upward momentum, XRP could break out of its months-long consolidation.
From a historical perspective, similar formations in XRP's price have resulted in strong upward moves. A confirmed breakout would likely attract fresh buying interest, potentially reigniting bullish sentiment across the altcoin market.
Peter Smith
