XRP Consolidates Above $2.20, ETF Optimism & Technical Breakout Fuel Bullish Sentiment

The daily chart reveals XRP forming a well-defined symmetrical triangle pattern that has been consolidating over months. This technical formation typically indicates a period of indecision before a significant directional breakout, with the apex suggesting that a major move is imminent.

Support levels have been established, with XRP showing strong buying interest around $2.08-$2.10, which has been tested multiple times and has held firm. 

The 50-day EMA is providing dynamic support around $2.15, acting as a floor during minor pullbacks, while the 200-day EMA sits near $2.08, creating a support foundation that aligns with the primary support zone.

The immediate resistance sits at $2.30, representing the recent rejection zones and the upper boundary of the triangle pattern. A decisive break above this level could trigger buying and short covering, potentially leading to a move towards the $2.50 – $2.55 zone where Fib levels converge with previous swing highs.

Volume analysis reveals recent increases in trading activity, coinciding with price stability above $2.20, which suggests accumulation behavior that typically precedes significant price movements. 

The RSI indicator shows readings in the neutral zone around 51.92, indicating XRP is neither overbought nor oversold, providing room for movement in either direction.

Also read: XRP Struggles with Resistance Near $2.30 as Bulls and Bears Battle