- A crypto analyst believes XRP is set to break out for a significant rally.
- The analyst predicts a $5.85 target for XRP after an upside breakout.
- XRP’s growing adoption suggests a bull run could be around the corner.
A cryptocurrency analyst on X has predicted that XRP will embark on a significant rally soon. The analyst spotted what they see as crucial bullish developments on the XRP weekly chart and used the extracted information to forecast a $5.85 target for the top altcoin.
Analyst: XRP’s Break Above $2.40 Resistance Is Key Trigger for Rally
The analysts spotted critical levels on the XRP weekly chart, including a $2.40 resistance and a $2.2222 support level.
Related: While Fun, $1000 XRP Far Off; Analysts Instead See $4.5 This Year for the Token
According to the analyst, the expected XRP rally will trigger when the price breaks above the $2.40 resistance, which would coincide with a break above the downward trendline and open the way for the altcoin to pursue new frontiers.
Current Price Action: XRP Dips Below $2.22, Holds $2.00 Support
TradingView’s data show that XRP traded below the $2.2222 support level at the time of writing. The altcoin’s price slipped below that level within the past 24 hours, dropping as low as $2.0594. However, an early morning recovery saw XRP bounce from support to trade for $2.1351 at the time of writing.
In the meantime, XRP’s daily chart on TradingView shows the $2.0 price as robust support, considering the cryptocurrency’s multiple reversals whenever the price reaches that level. That level has formed the base for XRP’s latest sideways movement after recovering from a dip in the first quarter of 2025.
Factors That Boost XRP Long-Term Outlook
Most analysts believe XRP will surge soon, especially with the fundamental developments within the cryptocurrency ecosystem. One such occurrence is the recent RLUSD launch in Dubai after the stablecoin gained approval from the Dubai Financial Services Authority (DFSA).
Related: XRP Goes Global, Cardano Gets Serious: Price Shocks Ahead?
Analysts believe the Dubai RLUSD launch will boost Ripple’s expansion and directly affect XRP’s adoption as the FinTech firm’s native cryptocurrency. Meanwhile, many crypto users are expecting the implementation of the US crypto stockpile decision, which includes XRP as a crucial player alongside other top cryptocurrencies.
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Source: https://coinedition.com/xrp-rally-targets-5-85-dollar-breakout/