XRP Eyes $3.34 Surge After Triangle Breakout: Details

2 mins mins

Key Insights

XRP trades at $3.05, following a triangle breakout and 10.1% price jump since August 1.
Analysts ali_charts and egragcrypto predict potential rises to $3.34 and $11–$37 respectively.
Ripple’s acquisition of Rail and strong Korean buying drive momentum amid SEC and ETF-related macro events.

XRP is trading at $3.05, gaining 1.59% over the last 24 hours after a key technical breakout. The price action followed a triangle pattern breakout identified by analyst ali_charts, who highlighted a near-term target of $3.34.

XRP briefly reached $3.08 on August 7 after surging from a $2.91 low.

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Volume spike aligned with an on-chain activity burst on August 1, which saw 2.1 billion in transaction volume. Data from Santiment confirmed XRP’s 1.12 billion token circulation that day, triggering a +10.1% rally.

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Moreover, the price breakout occurred just ahead of a critical regulatory update in the U.S. SEC is deliberating Ripple’s appeal withdrawal, which could solidify XRP’s status.

At the same time, Japanese conglomerate SBI Holdings has filed for a Bitcoin-XRP ETF, showing growing institutional interest.

Analysts Set Ambitious Price Targets

Additionally, technical analyst egragcrypto projects XRP could rise sharply if it breaks the long-standing “chasm line.”

According to his chart, previous cycles saw 420% to 2000% surges after breaching the 21 EMA resistance. He anticipates a move toward $11 and potentially $37 based on historical cycle patterns.

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Cycle 1 showed a 2,000% jump, and Cycle 2 recorded a 420% increase. Cycle 3 appears to be forming under similar circumstances. The current candle structure and price action are tracking above the monthly 21 EMA.

Fundamentals Support Price Action

In parallel, Ripple’s recent $200 million acquisition of Rail Financial is fueling bullish sentiment in the market.

Rail processes 10% of global stablecoin volume, and the deal boosts Ripple’s global expansion for RLUSD and fiat-stablecoin conversions. This corporate development adds credibility to the ongoing XRP rally.

Korean exchanges led the recent surge, pushing prices through several resistance levels between $2.91 and $3.02.

Increased transaction volumes suggest institutional or whale participation backing the upward move. Liquidity spikes followed the breakout, reinforcing technical support and sustaining momentum above $3.00.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.