The XRP price has undeniably become a focal point in the cryptocurrency landscape, capturing the attention of both investors and analysts alike. Recently, technical analysts have identified a major breakout setup that could potentially propel XRP to unprecedented levels. According to crypto market analyst HolderStat on TradingView, XRP is currently in a consolidation phase, with a critical resistance level standing between it and a possible surge toward the $4 mark.
Daily Chart Signals Consolidation Before Breakout
On the daily chart, HolderStat’s analysis reveals that XRP has recently executed a breakout from a significant triangle formation that developed over several months. This notable move pushed the asset sharply higher, yet it soon entered into a consolidation zone after hitting its peak. Currently, XRP is trading within a sideways range near $3.20 to $3.48, which suggests that buyers are actively soaking up selling pressure as they gear up for the next big movement. The immediate resistance line at $3.48 is drawing considerable attention among traders.
HolderStat predicts that a decisive breakout above this resistance line could set the stage for higher price targets at $3.8 and possibly even $4—levels that haven’t been seen since XRP’s previous all-time high rally in 2018. On the flip side, $3.20 serves as a key support level; if XRP cannot maintain this line, it may face increased selling pressure, which could lead to deeper price corrections.
The overall chart structure suggests that momentum is building for XRP. The current sideways action is viewed as a healthy pause, laying the groundwork for the impending next leg. As of now, CoinMarketCap data shows XRP trading at around $3.00, representing a 2.79% increase over the past 24 hours and a more modest 3.33% rise in the last week.
6H Chart Shows Accumulation With Higher Levels
Transitioning to a shorter timeframe, HolderStat also analyzed a 6-hour chart, which illustrates a more nuanced accumulation pattern for XRP. This chart indicates that XRP has been consistently printing higher lows while consolidating within a well-defined channel. Such behavior typically signals that bulls may be gaining control, as bearish pressures appear to be diminishing.
In this analysis, the $2.70 support level is highlighted as crucial. HolderStat emphasizes that as long as XRP holds this support zone, the bullish structure remains intact. A successful break above the $3.20 to $3.40 range on the 6-hour chart would reinforce the bullish continuation outlook presented in his earlier daily analysis.
Further corroborating these findings, other market watchers are aligning with HolderStat’s outlook. SwallowAcademy, another expert on TradingView, remarked that the market appears to be coiling up, suggesting that the consolidation phase could serve as a springboard for the next significant rally. Should momentum build, this expert also agrees that XRP could quickly ascend toward $3.8 and the $4 range in the near term.