TLDR:

XRP forms a triangle pattern with a major breakout expected within two weeks.
Trading volume jumps over 100%, reflecting rising investor interest in XRP.
Analyst EGRAG CRYPTO sets $20–$27 targets, warns of post-rally correction.
XRP outpaces the broader market, gaining 5.19% weekly versus a 0.90% market rise.

XRP price action has reached a pivotal moment as converging technical patterns suggest significant movement ahead. The cryptocurrency currently trades at $2.26, marking a 2.01% gain in the past 24 hours and a stronger 5.19% weekly increase. 

Trading volume has surged by 101.70% compared to the previous day, indicating heightened market interest. Technical analysts are closely monitoring key support and resistance levels that could determine XRP’s next major direction. 

Market participants await confirmation of whether the digital asset will break higher or face additional downside pressure.

XRP Price Analysis

XRP has been forming a descending triangle pattern since January 17, 2025, according to analyst Dark Defender’s recent market assessment. The descending trendline has acted as persistent resistance, creating lower highs throughout this period. 

Meanwhile, an ascending support line has been steadily rising, indicating growing demand at higher price levels. This convergence of trendlines has created a tightening price range that typically resolves with significant movement. 

Dark Defender emphasized that XRP will likely decide its direction within the next two weeks as these technical levels intersect.

Crypto analyst EGRAG CRYPTO has outlined ambitious price projections for XRP. He suggests targets between $20 and $27 in what he calls “The Guardian Arch” scenario. 

#XRP – The Guardian Arch ($20-$27): Key Targets and Strategy

By now, you should understand what I mean about targeting double digits. But please, I urge you, don’t wait for just one target to sell. Always take profits rationally and set clear, specific targets. I can’t stress… pic.twitter.com/ORiSEszwic

— EGRAG CRYPTO (@egragcrypto) June 9, 2025

The analyst’s measured move analysis points to an initial target of $20, though he warns investors against waiting for single price points before taking profits. 

EGRAG CRYPTO stressed the importance of having multiple exit strategies rather than relying on one specific target. He also cautioned that following potential highs, XRP could experience an 86% correction similar to the 2021 bear market, potentially bringing prices back to around $3.00.

Analysis Supports XRP Bullish Outlook

Technical indicators beyond basic chart patterns are aligning for potential upward movement in XRP price according to Dark Defender’s chart. 

Fibonacci extension levels identify key targets at $3.0283 and $5.8563, corresponding to 161.8% and 261.8% extensions, respectively. These levels align with Elliott Wave theory’s Wave 5 projection, suggesting XRP could be entering the final impulsive phase of its current cycle. 

The Relative Strength Index has been trending downward but now approaches a potential breakout zone. Additionally, the XRP price hovers near the upper boundary of the Ichimoku Cloud, where a break above would confirm a bullish trend reversal.

#XRP has been descending since 17 January this year.

The Support level, on the other hand, is increasing.

We have the intersection now.

Where XRP will decide within 2 weeks.

Tick-Tock #XRPArmy pic.twitter.com/y4ovpmNkOv

— Dark Defender (@DefendDark) June 9, 2025

XRP’s recent performance has exceeded broader market benchmarks, with its 5.19% weekly gain surpassing the global cryptocurrency market’s 0.90% increase. The digital asset has also outperformed the Coinbase 50 Index cryptocurrencies, which remained flat over the same period. 

The trading volume of $2.54 billion in the past 24 hours reflects increased market activity and investor interest. This heightened attention coincides with the technical setup that analysts believe could catalyze significant price movement in either direction.

XRP price on CoinGecko

The post XRP Price Nears Breakout as Technical Patterns Signal Imminent Major Move appeared first on Blockonomi.

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Filed under: Bitcoin - @ June 9, 2025 12:23 pm