XRP set for a major price breakout, according to expert
As XRP continues to be weighed down by the general bearish cryptocurrency market sentiment, technical indicators suggest the asset is likely preparing for a significant price move. Notably, as of press time,...
As XRP continues to be weighed down by the general bearish cryptocurrency market sentiment, technical indicators suggest the asset is likely preparing for a significant price move.
Notably, as of press time, XRP was trading at $2.35, having plunged over 6% in the last 24 hours, while on the weekly timeframe, the asset has rallied almost 10%.
The 50-day Simple Moving Average (SMA) is $2.64, slightly above the current price, while the 200-day SMA is significantly lower at $1.56, suggesting a longer-term upward trend. XRP’s 14-day Relative Strength Index (RSI) is 48.28, indicating a neutral market condition, neither overbought nor oversold.
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XRP’s next price breakout
As things stand, the sentiment around XRP leans bearish, yet cryptocurrency trading expert Ali Martinez suggests the asset may be poised for a breakout. In an X post on March 7, he highlighted a chart pattern indicating a potential 23% price movement.
Martinez noted that XRP is consolidating within a symmetrical triangle, a setup often linked to significant price shifts.
The asset has been tracing higher lows and lower highs, narrowing toward the triangle’s upper edge, hinting at an impending decisive move. Whether XRP breaches the upper or lower trendline determines the breakout’s bullish or bearish direction.
A symmetrical triangle typically triggers a price move that matches its initial height. Martinez estimates that a breakout above the upper line could push XRP to $3.00, while a drop below might drag it under $2.
Meanwhile, Dark Defender’s analysis in an X post on March 8 pointed to a bullish Coffee Cup pattern that could push the XRP price as high as $44.22. This pattern, a U-shaped formation, suggests a major trend reversal after a prolonged downtrend.
According to Dark Defender, XRP has formed this structure since 2023, when the token was trading around $0.50.
By integrating the Elliott Wave theory, the analysis paints a bullish picture of XRP’s future price movements. The third wave is projected to push the price between $5.85 and $18.22, followed by the fifth wave could send XRP soaring to $36.
The full depth of the cup, combined with the momentum of the pattern, suggests a potential final target of $44.22. Such a price would place XRP’s market cap at $2.54 trillion, making the token the top-ranked digital asset if Bitcoin (BTC) stagnates.
Currently, a key level to watch in this structure is $1.96, which acts as the formation’s neckline. A confirmed breakout above this resistance would validate the pattern and set the stage for a significant bullish run.
XRP whale accumulation spikes
Although XRP continues to face bearish pressure in the short term, there seems to be confidence in the token based on interest from whale investors.
On March 6, Martinez shared data from the onchain cryptocurrency analytics platform Santiment, indicating that whales accumulated 90 million XRP tokens in 72 hours. Such an increase in whale transactions has often preceded notable price growth.
XRP fundamentals
Looking ahead, XRP’s price will likely be influenced by several factors, with the legal battle between Ripple and the Securities and Exchange Commission (SEC) ranking at the top.
A pivotal moment for XRP came in July 2023, when Judge Analisa Torres ruled it was not a security in retail transactions, though institutional sales violated securities laws.
The SEC appealed in October, but with pro-crypto legislation gaining traction and President Donald Trump’s administration signaling a softer regulatory stance, analysts anticipate the appeal could be dropped by mid-2025.
Adding to the bullish outlook, Trump’s March 2025 announcement of a multi-crypto reserve— Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—has sparked speculation about XRP’s role in U.S. financial strategy. Given its cross-border payment efficiency and RippleNet’s banking partnerships, inclusion in the reserve could reduce XRP’s circulating supply and boost institutional demand.
Finally, the prospect of an XRP exchange-traded fund (ETF) could further drive institutional interest. With Bitwise’s filing in 2024 and Grayscale’s proposal acknowledged by the SEC, approval could unlock billions in inflows, pushing XRP’s price toward new highs.
Featured image via Shutterstock
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