The XRP, the token closely associated with Ripple Labs, shows the signs of a potential breakout as its price chart generates a symmetrical triangle pattern along with other bullish technical indicators.
The XRP is combined -integrated within the pattern shown below, characterized by two converting lines of trend lines suggesting a momentum buildup. Technical review from well -observed X users @DefendDark indicates That a breakout from this formation can pushed the XRP toward a short -term target of $ 6.
The symmetrical triangle has formed in recent weeks, with strict XRP price action as it approaches the top of the triangle. This setup, which is usually observed in the crypto markets, is often preceded by a sharp move – either upward or down – depending on the direction of the breakout.
Fibonacci Retracement Analysis supports this view, recognizing $ 2.04 as a major support level and $ 2.2 as a critical resistance. A break above $ 2.2 could confirm the bullish trend, which potentially driving the XRP towards the range of $ 5 to $ 8 in the middle of the term, per @darkdefend.
Hello everyone!
Hope you can be fine! #Xrp has touched our lowest levels of Fibonacci.
As stated, $ 2.222 is the main level and should be broken upwards.
We set $ 2.04 as our final level of Fibonacci, and we can visit there!
April-May will be hot, and our Wave 5 targets stand in… pic.twitter.com/j2junirck
– Dark Defender (@defendDark) March 30, 2025
The Elliott Wave Framework estimates price movements in five unique “waves” based on repetitive price patterns, called “waves.” The pattern of the five waves reflects the growing optimization, while the three-wave correction shows the extraction of income or pessimism. These waves are driven by the collective psychology of the investor and can occur in various timeframes and the followers consider it to be a way to make market behavior.
As such, a bullish technical perspective coincides with the growing uptimization of the crypto market, driven in part of regulatory development. The US House will make a crypto hearing on April 9, called “The Future of American Innovation and Digital Assets: Repair US security law for the digital age,” with plans to develop a regulation framework for digital ownership.
That could strengthen the eyes with tokens noticed near the US government, such as XRP and Cardano’s ADA, named as part of President Donald Trump’s potential crypto stockpile earlier in January.
