XRP (XRP-USD) showed resilience this week, rising 6.8% from Monday’s lows near $2.70 after crypto markets were rattled by over-leveraged liquidations. The move stabilized sentiment and put traders back on watch for a breakout toward new highs.
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Technical charts point to a symmetrical triangle pattern forming on the daily timeframe, often a signal of consolidation before a decisive move. For XRP, the setup suggests a potential upward breakout if bulls can force a close above $3. Analysts say that could open the path toward $4.08, which represents a 42% rally from current levels.
‘A Double Bottom Near $2.70’ Supports XRP’s Bullish Case
Analyst CasiTrades highlighted a key formation on the four-hour chart, noting that XRP carved out a “massive wick down to a double bottom near $2.70.” She stressed that the level must hold for the bullish case to stay intact.
“A double bottom like this still fits within a valid Wave 2 count, as long as the price holds above $2.70,” she said in a post on X.
Her upside targets include $4.00 and $4.40, based on Fibonacci extensions. On the downside, failure to defend $2.70 could expose support at $2.58.
Whale Accumulation Builds Floor for XRP’s Price
On-chain data supports the bullish view. Santiment’s Supply Distribution metric shows that wallets holding between 1 million and 10 million XRP added another 30 million tokens between Monday and Tuesday, bringing their total to 6.77 billion XRP. This equals 11% of the circulating supply.
In other words, whales were not dumping during the sell-off, they were buying the dip. This accumulation reduces selling pressure, creates a potential price floor, and often draws retail traders into the rally.
Glassnode data confirms the trend. XRP’s net holder position change has been strongly positive since Aug. 22 after a wave of profit-taking earlier in the summer. Much of that new buying clustered in the $2.70–$3.00 range, signaling confidence that these levels are long-term support zones.
Analysts See $4 and Beyond if Breakout Confirms
The broader analyst community remains upbeat. CryptoBull said XRP could even push to $5 in October if a bull flag pattern plays out cleanly. Others see $3.40 and $3.66 as critical resistance levels to clear before a bigger run.
“The market is preparing for a major trend shift,” said CasiTrades, pointing to the combination of whale accumulation, supportive technicals, and resilient price action.
At the time of writing, XRP is sitting at $2.8845.
