- XRP holds support at $2.58 with an ascending trend signaling a possible breakout above $3.50 soon
- Analyst projects XRP to hit between $5 and $10 if the price breaks resistance with strong volume
- Market shows mixed views but steady buying suggests momentum could push XRP toward higher targets
XRP has been moving within an ascending channel, trading at $2.58167 on the Bitstamp exchange. Market analyst JackTheRippler (@RippleXrpie) suggests the accumulation phase is nearing its conclusion, with a significant price increase expected. Based on historical price action and technical patterns, the current setup indicates potential targets between $5 and $10 in the coming weeks. Trading volume is 327.56K, signaling steady market activity as investors monitor the next move.
Ascending Channel Confirms Bullish Structure as Buyers Hold Support
The daily chart shows XRP maintaining an upward trend, respecting the channel’s lower boundary since December 2024. The lower trendline has repeatedly acted as strong support, preventing deeper pullbacks, while the upper boundary remains a key resistance. Each test of the support zone has led to sharp recoveries, reinforcing bullish sentiment. Price movements indicate a well-maintained structure, with buyers stepping in at key levels.
XRP previously tested the $4 level before retracing, with its recent pullback aligning with trendline support. If momentum sustains, a push past $3.50 could trigger further buying, aligning with the projected $5 to $10 range. The analyst’s bullish projection follows previous breakouts, where similar accumulation periods resulted in sharp rallies.
Market Sentiment Mixed as Traders Await Confirmation
Despite the bullish setup, market participants remain divided on XRP’s next move. Social media responses highlight skepticism, with some traders noting that similar calls have been made before. However, volume trends and price structure suggest that accumulation may indeed be concluding. A decisive breakout from the channel would confirm, especially if accompanied by strong trading activity.
If XRP maintains its trajectory and breaks past resistance, price action could accelerate toward higher targets. Traders are closely watching for signals, particularly about broader market trends. As accumulation nears its final stages, XRP’s movement in the coming weeks will determine whether JackTheRippler’s bullish outlook materializes.
