XRP Price Nears Breakout as Symmetrical Triangle Forms Around $3.1 Support

Andrew Chen
Ripple XRP

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  • XRP trades near $3.1 support within a tightening triangle pattern.
  • Break above $3.5 could target previous highs; failure risks $2.7–$2.8.
  • Traders anticipate a decisive move as volume and momentum converge.

XRP has entered a crucial consolidation phase within a narrowing symmetrical triangle, with traders eyeing a decisive breakout in the coming days.

Symmetrical Triangle Signals Imminent Move

XRP is currently trading inside a symmetrical triangle on the 4-hour chart, marked by lower highs and higher lows. This compression follows the token’s sharp rally from June lows to its mid-July all-time high of $3.65. Since then, price action has cooled, creating equilibrium between buyers and sellers.

Prominent analyst CryptoBull (@CryptoBull2020) highlighted the formation, noting that XRP’s recent pullback to around $3.08—down nearly 6% in a day—brought the token to a key confluence zone. This area aligns with an ascending trendline from late June and former resistance turned support near $3.1.

Technical Context: Support Test at $3.1

In classical chart analysis, symmetrical triangles often signal consolidation before a breakout. Given XRP’s preceding rally, the pattern carries a bullish tilt—though a break below the rising trendline would undermine that view and expose lower levels.

The 200-day moving average remains far below current prices, underscoring the strength of XRP’s broader trend. Trading volume has declined during consolidation, but history suggests activity will spike sharply once price escapes the triangle.

Should XRP reclaim the $3.5 area with conviction, a retest of July’s highs could be back on the table. Conversely, failure to defend $3.1 would likely shift focus toward the $2.7–$2.8 support zone.

Also Read: XRP Could Soar to $22–$50 After Spot ETF Launch, Says Crypto Analyst

Market Outlook: Breakout Approaches

With the triangle’s apex approaching, XRP is nearing a decisive resolution. While CryptoBull emphasized the importance of the $3.1 support, another analyst recently pointed to a larger multi-year triangle that could theoretically propel XRP as high as $12.6 over time.

For now, the battle remains at immediate support. A successful defense would preserve XRP’s bullish structure and set the stage for another attempt higher, while a breakdown risks deeper retracement. Traders are watching closely as momentum builds toward the breakout point.

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

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