Ripple XRP (XRP) Price Analysis: Key Trendline Break Signals Higher Targets

XRP is currently hovering around the $3.00 mark and has once again started to look bullish in the short term. As highlighted in our previous analysis, XRP was facing resistance between the $2.85 and $2.90 mark, and the price has now broken above it. Right now, XRP is gaining strong momentum, and a crucial bearish structure we were eyeing previously has also been invalidated. Let’s take a quick look at the latest price charts for XRP to see where the price could be headed in the coming days.

Key Takeaways

• XRP has broken above the $2.90 resistance and invalidated the descending triangle pattern, turning short-term momentum bullish.
• Key upside targets now sit around $3.40 and $3.80 if momentum continues.
• A bearish divergence on the weekly chart still lingers, signaling caution despite the bullish outlook.

Analyzing the XRP Charts

If we take a quick look at the 1-day charts for XRP, we can see that the price has broken above the resistance at $2.90 and is now looking bullish. The price traded below this level for over a week but has now gained enough steam to get above it.

While the break of the $2.90 mark is significant, the main highlight on the 1-day timeframe is the break of the trendline resistance XRP has been facing for the past couple of months. We can see that the price has clearly broken above this slant resistance and is now gaining further momentum. This trendline was also forming a descending triangle pattern, which is statistically a bearish pattern. However, with the price breaking above the resistance, the pattern has been invalidated, and we will be looking for higher targets for XRP in the short term.

If the price were to continue gaining momentum here and the descending triangle were to play out as bullish, we can expect higher targets for XRP in the coming weeks. While our first target will be around the resistance at $3.40, our main breakout target will be just below the $3.80 mark, which is sitting above the previous all-time high.

Lastly, zooming out to the 1-week timeframe, we also have a bearish divergence for XRP that still has not been invalidated. A bearish divergence indicates that the price is in the overbought category, and the price must invalidate this divergence with a clear move if the trend is to remain bullish in the coming days.

Final Takeaway: What is Next for XRP?

XRP is currently looking bullish on the lower timeframes, showing signs of strength by invalidating the descending triangle pattern. Right now, things are looking positive for the price action, and our XRP price prediction is leaning bullish. However, despite the momentum, we still have a bearish divergence on the 1-week chart that has not been invalidated. We will be eyeing higher targets for XRP in the coming days but with caution, as that bearish divergence can still push the price toward a correction.