XRP surged 4% as traders monitored a potential 'triangle breakout' that could propel the cryptocurrency toward $1.35. Trading volume increased significantly, with CoinGecko reporting a 24-hour volume of approximately $1.27 billion. XRP maintained its position above the $1.08-$1.10 range, preserving its short-term recovery structure.
Technical analysis indicates that a sustained break above $1.13 would confirm the triangle breakout, potentially targeting $1.35. The hourly chart shows a symmetrical triangle pattern, with price compression between lower highs and higher lows. However, the daily chart remains cautious, as XRP continues to trade within a descending channel, with the 100-day and 200-day moving averages positioned above the current price.
Key resistance is identified in the $1.24-$1.28 range, aligning with the channel's upper boundary and major moving averages. Support is strongest around $1.02-$1.06, a zone where buyers have consistently entered in recent weeks. Traders are advised to watch for a breakout above $1.13 to strengthen the bullish outlook, while a drop below $1.02 could expose XRP to further declines toward $0.88-$0.92.
XRP Rises 4% Amid Triangle Breakout Speculation
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