XRP’s price action triggered renewed investor interest earlier this week following a decisive breakout from a symmetrical triangle that had constrained the token’s movement for six years.
At the time, the digital asset surged 5%, climbing from a low of $3.46 to a peak of $3.64 before consolidating around $3.55.
However, XRP has since lost momentum. The token is currently trading at $3.47, down 1.89% over the past 24 hours, as traders digest the recent move and await further confirmation.
Despite the pullback, analysts continue to monitor whether the breakout structure holds.
Source: CoinMarketCap
The final hour of the initial breakout session – between 01:09 and 02:08 GMT – had seen XRP add another 1.14%, climbing above the $3.53 resistance on a 4.3 million volume spike.
The question now is whether the $3.46–$3.55 range can serve as a renewed base.
Volume profile supports long-term bullish structure
The breakout had marked a textbook resolution to the long-term symmetrical triangle.
Resistance shifted to $3.64, while support temporarily formed around $3.55.
These levels had created a tight trading corridor that offered the potential for another leg higher.
The 158 million unit surge during the breakout wasn’t a standalone event.
Subsequent trading sessions maintained elevated volume levels, suggesting the move wasn’t just speculative.
The CD20 index also recorded a 4.7% intraday range, reinforcing the volatility and interest among traders.
Although XRP is now trading lower, the Relative Strength Index (RSI) remains in neutral territory, and the breakout’s technical structure has not yet been invalidated.
Analysts continue to use Fibonacci extension levels to project a target of $6.00, pending confirmation of continued momentum.
Regulatory and ETF developments drive sentiment
The rally coincided with several structural shifts in the digital asset market.
Two pieces of legislation – the GENIUS and CLARITY Acts – have advanced in the US, aiming to establish clearer rules for the crypto sector.
These regulatory efforts have been viewed as key to legitimising XRP and similar tokens in the eyes of institutional investors.
The launch of the ProShares XRP futures ETF added another catalyst.
The ETF allows traditional investors to gain regulated exposure to XRP’s price without holding the token directly.
This development opened the door for asset managers and funds to enter the market with greater security.
Both the legislative progress and the ETF listing have played a role in bolstering sentiment around XRP.
Although prices have pulled back, these fundamental supports remain intact and may influence the next phase of movement.
What the market is watching next
Traders are closely watching whether XRP can defend its current levels near $3.47.
A sustained hold above the $3.46 support would keep the bullish structure intact, with potential for another push toward the $3.84 resistance and eventually the $6.00 Fibonacci target.
On the other hand, a breakdown below $3.46 could call the breakout into question.
Such a move may signal a return to the pre-breakout range and could trigger a new wave of technical selling pressure.
ETF capital flows and whale accumulation remain key indicators to watch.
If large holders continue to add positions and institutional demand remains steady through the futures product, XRP may still have room to climb despite the short-term retracement.
While the token is down on the day, the breakout setup remains valid in the eyes of market analysts, and XRP’s trajectory will depend on how volumes and sentiment unfold in the sessions ahead.
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