XRP triangle pattern signals bullish breakout

Key Insights:

• XRP must defend $2.70 and break $2.90 to aim for a $3.70 bullish target.
• Elliott Wave count shows support near $2.65, keeping the bullish triangle setup valid for XRP.
• XRP/BTC retests support with RSI near 29, suggesting potential rebound backed by past market moves.

XRP is trading near a key support level as analysts point to a possible breakout above $3.70. Market watchers see bullish signs forming around the current price action, supported by technical indicators and chart patterns.

Analyst Projects Upside Toward $3.70

XRP’s price action forms a descending triangle pattern. According to Crypto analyst ali_charts, XRP needs to hold $2.70 in support to confirm a bullish outlook. He stated that a bounce from this zone and a move above $2.90 could open the way to $3.70.

Ali’s forecast outlined Fibonacci retracement levels with zones at $3.05, $3.14, and $3.26. These levels are seen as checkpoints before reaching the projected resistance range of $3.66–$3.70.

Elliott Wave Count Supports Bullish Setup

However, Trader Matthew Dixon has also identified a bullish setup for XRP using Elliott Wave analysis. He describes the current move as an E-wave overshoot that falls within the 68% to 78% retracement zone of the earlier C wave.

Based on Dixon, the triangle pattern is still valid, and the E wave appears to have ended around the $2.65 level, near the 0.786 Fibonacci level. This area is just under the $2.75 support zone.

This setup keeps the bullish count alive, but warns that any sharp move below $2.65 would cancel this scenario. The next resistance is near $3.80 if the pattern holds.

XRP/BTC Pair Shows Rebound Signs

Meanwhile, Analyst Cryptoinsightuk is tracking the XRP/BTC pair, which is retesting a historical support zone. He noted that this level acted as resistance before turning into support in July, and it is now being tested again.

With the 4-hour RSI near 29.69, past market moves suggest possible rebounds under similar conditions. Although there is no guaranteed bottom, this setup has previously produced upward moves, and the added liquidity on the dollar pair strengthens the case for a rebound.

As of the time of writing, XRP was trading at $2.81 with a daily volume of $6.16 billion. The token is down 0.68% over the past 24 hours. A bounce and a break above $2.90 remain the levels that could drive XRP toward $3.70.