- XRP trades at $2.89 inside a descending triangle, with $2.70 support holding firm.
- Breakout targets include $2.48–$2.33 downside or $3.20–$3.40 upside if resistance clears.
- Whale accumulation and Ripple’s SEC case closure boost confidence as traders watch $2.98.
XRP is trading at $2.89 while consolidating inside a descending triangle that has shaped the market over recent weeks. The pattern has been defined by lower highs compressing against a horizontal support at $2.70. Analysts have noted that this formation may precede a 25% swing once a breakout occurs.
Compression Within a Descending Triangle
According to analysis prepared by Ali Charts, XRP has maintained a descending triangle since late July, with price repeatedly rejected below $3.00. The resistance zone aligns with Fibonacci retracement levels at $2.98, $3.10, and $3.40, limiting upside attempts.
The tightening formation reflects compression, where price action narrows between set resistance and support levels. Support near $2.70 has held firm with multiple successful retests confirming its importance.
A break beneath this level could expose downside targets at $2.48 and $2.33, which correspond to key Fibonacci extensions. Conversely, sustained momentum above $2.98 would expose higher resistance levels between $3.20 and $3.40, marking an opportunity for further expansion.
Market Structure and Broader Developments
According to an observation by CW8900, XRP’s weekly chart shows four major phases since 2014, each combining accumulation and breakout cycles. After every triangular consolidation, the token recorded a rally toward new all-time highs. The current phase has been identified as Phase 4, projecting continuation if XRP maintains support.
On-chain data and market activity confirm growing involvement. Over 340 million XRP have been accumulated by whales in recent weeks. Ripple’s conclusion of its SEC case also removed legal uncertainty, allowing attention to return to adoption and technical developments.
Additionally, institutional participation is increasing, with Ripple Swell 2025 expected to feature BlackRock among its speakers, reinforcing the connection between traditional finance and the digital asset sector. With compression nearing the apex, traders remain focused on the $2.70 support and $2.98 resistance to define XRP’s short-term direction.
