- XRP is consolidating within a triangle pattern, holding key support at $2.565, while traders watch for a breakout above $3.05 to trigger further upside.
- Whale accumulation surged with nearly 1 billion XRP purchased in 24 hours, signaling renewed investor confidence despite recent market volatility.
- If XRP breaks resistance at $3.05, it could climb toward $3.57, but a failure to hold support may lead to a retracement between $2.40 and $2.50 before another attempt at a breakout.
XRP price is stuck in a Wave 4 formation, holding firm within a triangle pattern, which typically signals price compression before a breakout. The altcoin has bounced off key support levels, but investors are watching the $3.05 resistance zone. A decisive move above could trigger a rally.
XRP’s Triangle Pattern Holds—What’s Next?
Analyst Casi Trade noted that XRP is respecting its support at $2.565, staying within a structured consolidation phase. This triangle formation suggests that price compression is underway, a setup that often leads to explosive moves. Resistance at $3.05 is a critical level, and breaking it could push XRP toward $3.57. On the other hand, failure to maintain support could result in further downside. Market sentiment remains divided, with some expecting a prolonged consolidation while others anticipate an imminent breakout. Some analysts have predicted XRP could hit $70 in the long run, citing market confidence and rising futures interest. While that target seems distant, strong support levels and whale accumulation make XRP’s trajectory worth watching closely.
Wave 2 Pullback Expected After Breakout
If XRP breaks through $3.05, analysts expect a Wave 2 retracement before the next bullish leg. The possible pullback range lies between $2.40 and $2.50, depending on how high the breakout extends. According to Elliott Wave Theory, these corrections are normal and often set the stage for a stronger uptrend. The depth of the pullback will determine if buyers step in to maintain higher lows. A breakout followed by a healthy retracement would confirm the start of a new cycle, increasing the likelihood of higher price targets beyond previous all-time highs.
Whale Activity Surges—Accumulation in Full Swing?
On-chain data reveals that large investors have scooped up nearly 1 billion XRP in 24 hours. Analyst Ali Martinez noted that whale wallets saw a sharp decline, followed by a massive recovery, signaling aggressive accumulation. Whales holding between 10 million and 1 billion XRP have resumed buying, suggesting confidence in XRP’s future rally. Institutional players often dictate market direction, and their moves indicate strong accumulation ahead of a potential breakout. Some whales likely bought XRP at lower prices, taking advantage of the recent Bitcoin-led sell-off. As Bitcoin fills key CME gaps, XRP and other altcoins follow its trend closely. Analysts speculate that once these gaps are filled, the market could be primed for a strong rebound.
Final Thoughts—Will XRP Break Out or Keep Consolidating?
The next few days could be crucial. If XRP breaks $3.05, it could see a strong surge toward new highs. However, if whales slow down accumulation and sellers step in, XRP may struggle to hold momentum. The key levels to watch remain $2.565 for support and $3.05 for resistance. A retracement to $2.40-$2.50 could provide a re-entry point if the breakout materializes. The big question remains: Is XRP gearing up for a bullish run, or will the consolidation drag on? Stay tuned.
