Current trends in XRP indicate the formation of an ascending triangle on the 4-hour chart, which may signal further price growth. Analysts highlight key support and resistance levels and project possible targets.
Structure of the Ascending Triangle on 4-Hour Chart
XRP is trading within an ascending triangle on the 4-hour chart, a pattern often linked with continuation to the upside. It is consolidating just under resistance, with the apex of the formation drawing closer.
Analyst EGRAG CRYPTO explained:
CITE_W_A: “As long as XRP stays above $2.973, we’re still on track to reach the apex of the ascending triangle and make our move. The measured target is $3.12122, and it could even extend further.”
Analysts Outline Higher Targets
Another analyst, CasiTrades, noted the breakout from a long consolidation period. She wrote:
CITE_W_A: “Consolidation Ends, Momentum Builds: XRP Targets $4.50. It has broken out of its months-long consolidation, and confirmation of the breakout is occurring with the $3 test now in play.”
CasiTrades tracks Fibonacci levels as key points. She places support at $3.00 and resistance at $3.25. Clearing these zones would open the way for higher moves.
Derivatives Dynamics and Market Activity
Meanwhile, derivatives interest has expanded alongside spot activity. Futures open interest has reached $8.36 billion, showing that positioning is building as the market leans into the move. Broader crypto trading continues to track expectations for US monetary policy, with rate cut bets boosting flows into larger-cap tokens such as XRP.
In light of current trends, XRP shows signs of strength, and analysts predict potential growth levels. It is essential to closely monitor key support and resistance levels that may determine the direction of future price movements.
