The XRP price has been one of the most closely watched cryptocurrencies in the market, and technical analysts are now pointing to a major breakout setup that could send its value to new levels. According to TradingView crypto market analyst HolderStat, XRP is currently consolidating, with a critical resistance line standing between the cryptocurrency and a potential surge toward $4.
Daily Chart Signals Consolidation Before Breakout
On the daily timeframe, HolderStat highlights in his chart analysis on TradingView how XRP has recently completed a breakout from a large triangle formation that developed over several months. This move carried the asset sharply higher, but after reaching its peak, the price entered into a consolidation zone.
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The analyst’s chart now shows that XRP is trading sideways near $3.20-$3.48, indicating that buyers may be soaking up sell pressure while preparing for the next move. The analysis also identifies $3.48 as the immediate resistance line that traders are closely watching.
HolderStat predicts that a decisive breakout above this resistance line could pave the way toward higher targets at $3.8 and possibly $4, levels not seen since XRP’s previous ATH rally in the 2018 bull market. On the downside, $3.20 remains the key support level. If XRP fails to hold this line, it could face renewed selling pressure, potentially triggering steeper price corrections.
Overall, HolderStat’s chart structure suggests that momentum is building for XRP, with sideways price action viewed as a healthy pause before the next leg. At the time of writing, CoinMarketCap data shows the cryptocurrency trading at $3.00, up 2.79% over the past 24 hours and 3.33% in the last seven days.
6H Chart Shows Accumulation With Higher Levels
In a follow-up analysis, HolderStat shared a 6-hour chart, which shows a similar but more detailed accumulation pattern for XRP. The shorter timeframe reveals that the token has been printing higher lows while consolidating within a channel. This type of market behavior often indicates that bulls may be taking control, as bearish pressure subsides.
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The analysis also underscores the importance of the $2.70 support level. As long as the XRP price holds this critical zone, HolderStat notes that the bullish structure remains intact, and the price has a strong chance of breaking higher. Building on this momentum, he predicts that a successful move beyond $3.20 – $3.40 on the 6-hour chart would confirm the bullish continuation, reinforcing the outlook presented in the previous daily analysis.
The analyst’s findings are further supported by other market watchers. SwallowAcademy, another crypto expert on TradingView, commented that the market appears to be coiling up, with consolidation acting as a springboard for the next potential rally. If momentum picks up, the analyst agrees that XRP could quickly advance toward $3.8 and $4 in the short term.
Featured image from Getty Images, chart from Tradingview.com