XRP Price Prediction: Weekly rise exceeds 11%, reigniting bull run sentiment, is the breakthrough at the $3 mark imminent?

XRP ended the past week with a rise of up to 11.4%, outperforming most major alts and successfully reigniting bullish sentiment in the market. XRP is currently trading at approximately $2.67, with a 24-hour volume exceeding $3.68 billion and a total market capitalization of $157.4 billion, ranking fourth globally. However, Technical Analysis shows that XRP is still constrained by a “descending triangle” pattern, with short positions not yet fully resolved. A breakthrough of the key resistance level at $2.72 will determine its next phase of movement.

1. Strong Rebound and Market Position: Optimism Under Ripple's Global Payment Expansion

The steady rise in XRP prices comes at a time when optimism in the broader cryptocurrency market is resurfacing, primarily driven by Ripple's continued expansion in the global payments sector, which has led to increased institutional participation.

• Weekly Performance: XRP has achieved an impressive 11.4% rise, injecting positive signals into the current market.
• Market Data: XRP has a market capitalization of 157.4 billion USD, with a circulating supply of over 60 billion coins, firmly ranking 4th in the global cryptocurrency market capitalization list.
• Current trading dynamics: XRP price has risen by 2.63% in the last 24 hours, with active trading activity and a 24-hour volume exceeding 3.68 billion USD.

Despite the strong performance on the weekly chart, the technical analysis shows that XRP is still in a consolidation phase before confirming the next major move.

2. Technical Analysis: Potential Risks of Descending Triangle

The XRP chart structure remains cautious at the moment. Although it performed strongly this week, the coin is forming a descending triangle pattern.

descending triangle structure and signals

• Pattern Definition: This bearish pattern consists of lower highs (around $2.71) and a flat bottom ($2.26).
• Signal Interpretation: A descending triangle typically indicates that bullish strength is weakening. If the resistance level is not broken, it may suggest the continuation of a correction phase.
• 20-day/50-day EMA: The 20-day EMA (2.54 USD) is below the 50-day EMA (2.69 USD), indicating that sellers technically still have the upper hand.
• RSI Indicator: Relative Strength Index (RSI) is approaching 52, having rebounded from the oversold area, indicating moderate buying interest, but it has not yet been confirmed as a trend reversal.
• Candlestick patterns: The recent appearance of spinning tops and Doji candles during trading sessions are classic signals of market indecision before volatility expansion.

5. Key Trading Settings and Trend Forecasting

XRP price is currently at a technical crossroads, with short-term traders closely monitoring the $2.70 to $2.72 range to confirm a breakout.

XRP must decisively break through 2.72 USD to regain momentum. Failure to break through will confirm resistance, potentially leading to a price pullback to the historical demand area of 2.26 USD or 2.02 USD. Therefore, a clear breakout is key to confirming whether the current rise is part of a larger recovery or another consolidation.

Conclusion

XRP's outstanding performance this week has undoubtedly boosted market confidence, but the technical structure of the descending triangle requires investors to remain cautious. Before the resistance level of 2.72 dollars is clearly broken, short-term trading still needs to be wary of the risk of a pullback. The optimistic sentiment from institutions and the pressure from the technical side create an interesting tug-of-war, and XRP's next move will provide an important barometer for the altcoin market.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.