XRP Price Breakout Signals Bullish Surge as $3.40 All-Time High Comes Into View

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Key Takeaways

• XRP breaks out of bull flag, signaling a potential strong uptrend toward $3.40.
  
• Elliott Wave analysis confirms bullish momentum, with a one-two setup pointing to further gains.
  
• Support between $2.39–$2.60 is crucial to maintain the bullish structure.

After months of sideways movement, XRP has finally broken out of its long-standing consolidation range. The digital asset surged past the upper boundary of its bull flag pattern—a formation that often precedes strong upward moves. This breakout has sparked renewed bullish momentum and caught the attention of both retail and institutional traders.

At press time, XRP is trading at $2.76, marking a 7% increase in the past 24 hours. With the breakout confirmed, the token is now setting its sights on the $3.20 level, with the all-important $3.40 all-time high not far behind.

XRP’s Bull Flag Breakout Signals Uptrend

XRP’s recent rally came after it broke above a clearly defined bull flag structure. This technical pattern is typically considered a continuation signal, indicating that the prior uptrend is ready to resume. Traders see this as a green light for potential upside, particularly given XRP’s history of rapid, parabolic movements once momentum picks up.

Unlike other cryptocurrencies that tend to consolidate or pull back during rallies, XRP often moves in sharp, vertical trends. This characteristic adds further excitement to its current breakout.

Elliott Wave Patterns Point to Higher Levels

Technical analysts using Elliott Wave theory have also supported the bullish thesis. According to their charts, XRP has formed a classic “one-two setup,” which typically leads into a third wave—usually the most explosive phase of an uptrend. This same pattern played out during XRP’s strong 2023 rally and now appears to be repeating.

This technical confirmation gives traders more confidence that the current uptrend could carry XRP toward and potentially beyond its previous all-time high of $3.40.

Key Support and Resistance Zones to Watch

In the short term, XRP faces resistance between $2.90 and $3.00. A clean break above this region could accelerate the move toward $3.20 and then $3.40. On the downside, immediate support lies in the $2.39–$2.60 range. Holding above this zone is critical to maintaining the bullish trend.

Also Read: XRP Whale Wallets Hit All-Time High as Price Jumps 26% — Santiment Says Altcoin Season Is On

Market watchers are keeping a close eye on volume, as sustained buying interest will be essential for XRP to keep up its momentum.

XRP’s breakout from a long-term consolidation pattern has reinvigorated market interest. With bullish technical indicators, a favorable Elliott Wave setup, and a history of rapid price movements, XRP may be poised for another major run. As long as it holds support, the path to its previous all-time high remains open.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.