XRP Price Breakout Signal Appears: Symmetrical Triangle Critical Point Approaching, $2 Target May Come Into View

March 10 News: XRP prices have recently shown signs of rebound, with market attention focused on whether it will soon complete a key technical breakout. Data indicates that XRP has risen about 4% intraday, reaching a high of $1.39 during the session. During the previous correction, influenced by macro factors such as a weakening Bitcoin price, soaring oil prices, and tensions in the Middle East, XRP fell from a weekly high of $1.46 to around $1.34, a decline of nearly 8%.

Currently, from the daily chart structure, XRP is approaching a breakout of a symmetrical triangle pattern that has formed over several months. This pattern typically appears during long-term consolidation phases and is composed of two converging trendlines, with the upper line connecting multiple highs and the lower line connecting lows. When the price breaks above the upper trendline, technical analysis generally considers it a continuation signal for an upward trend.

The latest movement shows XRP testing the resistance zone above the triangle. If a breakout is confirmed, technical models suggest a potential target price of around $2.06. This target is calculated based on the height of the triangle and the breakout point, offering significant room compared to the current price of approximately $1.38.

Momentum indicators also show positive signals. The MACD remains upward, while the RSI has formed a bullish divergence with recent price action, indicating that selling pressure is easing. In the short term, the 23.6% Fibonacci retracement level at about $1.42 is a key resistance zone for traders. A successful breakout above this level could turn it into a new support.

On the fundamentals side, the growth of stablecoin supply within the XRPL ecosystem is seen as an important factor driving market sentiment improvement. According to DeFiLlama, the total stablecoin supply on the XRPL network increased by about 2.5% over the past 7 days, reaching approximately $426 million. An expanding stablecoin market usually indicates increased on-chain liquidity and active trading, often viewed as a sign of growing ecosystem demand.

However, institutional fund movements still suggest caution. Data shows that in the past two weeks, approximately $22 million of net outflows occurred from US spot XRP-related ETFs, ending a four-week streak of net inflows. Changes in fund structure imply that some institutional investors are reassessing short-term risks.

With the technical pattern nearing a breakout, on-chain liquidity rising, and macroeconomic uncertainties persisting, XRP’s upcoming price trajectory remains at a critical stage for observation.