XRP price has officially crossed the significant $3 threshold, marking a pivotal moment for Ripple’s native token. This breakthrough follows weeks of stagnant trading and the confirmation of a bullish inverse head-and-shoulders pattern, prompting traders to consider higher price targets.
Currently, XRP is priced at approximately $3.01, reflecting a gain of over 2% in the past 24 hours, with intraday highs reaching $3.02. This substantial movement beyond the $3.00 resistance was driven by robust buying pressure and a trading volume exceeding $6 billion within the last day, indicating renewed engagement from investors.
Last week, XRP had maintained a consolidation phase within the $2.88–$2.92 support range, showing resilience amid market volatility. Analysts have interpreted this behavior as a sign of strength among bullish traders, setting the groundwork for the recent breakout.
Technical analysts have been closely monitoring the formation of the inverse head-and-shoulders pattern, a traditional bullish reversal indicator. According to market observers, this setup suggests a projected upward movement that could catapult XRP toward $3.045, the next key resistance point.
The analyst community indicates that the breakout appears solid, with the $2.65 level acting as a launch pad for this pattern. XRP is now consistently trading above the $2.85–$2.89 range, and if bullish momentum continues, short-term targets could escalate to $3.00 and then $3.045, with more extended levels reaching $3.13 and the $3.30–$3.35 zone.
Looking ahead, momentum indicators remain positive, showing higher lows forming within an ascending channel on shorter timeframes. If XRP sustains its position above $3.00, analysts predict potential upside toward $3.20 and possibly even $3.53. A decisive breakout above the $3.045 level could lead to increased buying activity and further accelerate the rally.
However, traders should remain vigilant regarding support levels, particularly near $2.88. A drop below this threshold may trigger a short-term pullback before buyers mount another attempt to push the price higher.
Additionally, the sentiment surrounding Ripple’s XRP is improving, fueled by greater regulatory clarity and growing speculation regarding the potential approval of an XRP ETF. Should this ETF be approved, it could attract significant institutional investments, pushing XRP prices toward new heights.
Market confidence in the potential approval of an XRP ETF has surged to an impressive 98%, reflecting strong optimism among traders. The broader altcoin market is also experiencing a revival, with capital stepping back into major projects following prolonged periods of muted activity. Historically, XRP has demonstrated robust rally capabilities after lengthy consolidation periods, leaving traders eagerly watching to see if past performance will echo once more.
With the latest breakout securely placing XRP on traders’ radars, the continuation of buying pressure could facilitate a forthcoming test of $3.20, with the possibility of climbing to $3.53 and beyond if positive momentum persists. As technical patterns align with an improving market sentiment, many analysts believe XRP may be on the cusp of its next significant move, potentially setting the stage for the events of 2025.
