- XRP bounced 6.8% from $2.70, forming bullish triangle and double-bottom patterns that target $4–$5.
- Whales bought 30M XRP during the dip, raising their holdings to 6.77B (11% of supply).
- Key levels: support at $2.70, resistance at $3–$3.66, with upside targets at $4 and beyond.
XRP has bounced back with strength after Monday’s sell-off, climbing nearly 7% from lows around $2.70. Traders are eyeing this level as the critical line in the sand—if XRP holds above it, momentum could build for a run toward $4.
The latest rebound follows a double bottom formation on the four-hour chart, which analyst CasiTrades says fits neatly into a valid Elliott Wave structure. As long as $2.70 remains intact, she argues, XRP is well-positioned to test $3.40, $3.66, and potentially $4.40 in the weeks ahead.
Symmetrical Triangle Points to $4 Target
On the daily timeframe, XRP has been consolidating inside a symmetrical triangle. This technical pattern often signals a breakout once volatility compresses. For XRP, a move above $3 resistance could unlock a measured target of $4.08—a potential 42% rally from current prices.
Other traders, including CryptoBull, are even more bullish, noting that XRP is also trading within a bull flag pattern. If confirmed, he says, the breakout could extend toward $5 as early as October.
Whales Buy 30M XRP on the Dip
On-chain data adds weight to the bullish case. Santiment’s supply distribution shows wallets holding between 1M and 10M XRP scooped up 30 million tokens during the dip, raising their collective stash to 6.77 billion XRP. That’s roughly 11% of the entire supply.
This kind of accumulation suggests confidence from large holders, who are effectively creating a price floor and signaling retail traders to follow their lead. Glassnode data also shows net holder position change has turned strongly positive since late August, after a period of profit-taking near the $3.66 highs.
What Traders Should Watch Next
XRP’s near-term future will likely hinge on whether it can hold $2.70 as support and break through $3 resistance. Above those levels, the $4–$4.40 range becomes the next big target zone. On the downside, a drop below $2.70 could pull XRP toward $2.58 support.
With whales accumulating, technicals flashing bullish, and ETF speculation heating up, many analysts believe the market is preparing for a “major trend shift” that could redefine XRP’s trajectory into Q4.
