XRP Latest News: Nears breakout as bulls target the $3 level and higher gains.

XRP holds steady near $2.96 following a decisive break above key resistance, with chart patterns indicating potential rally toward $4-$5 range.

XRP has emerged as a focal point for cryptocurrency traders as it maintains position around $2.96, displaying bullish momentum after breaking through a critical long-term resistance line. Technical indicators are aligning to suggest a possible major price movement ahead, drawing increased attention from market participants.

XRP Gains Traction Following Extended Sideways Movement

Currently trading near $2.96, XRP has successfully defended its recent gains amid broader market fluctuations. Weekly chart analysis reveals a distinctive wedge formation – a technical setup frequently associated with substantial price breakouts.

According to market technician @RizXRP, the cryptocurrency demonstrates robust foundational support while exhibiting characteristics of a recurring accumulation pattern. These technical developments indicate XRP may be positioning for a notable upward trajectory, echoing similar breakout scenarios from its trading past.

Critical XRP Price Thresholds Ahead

Traders are monitoring $3.04 as the immediate resistance barrier, with subsequent targets at $3.09 and $3.13. Successfully clearing these levels could ignite additional buying pressure. Conversely, downside protection exists at $2.80, backed by more substantial support near $2.60.

The current market structure reflects XRP’s established cyclical behavior, where prolonged sideways trading typically precedes sharp upward movements. Should this pattern continue, price targets in the $4-$5 zone become increasingly feasible over the coming months.