XRP jumps 4% as traders watch 'triangle breakout' toward $1.35
XRP prices rose 4% to reach $1.13, driven by technical chart patterns that suggest a potential breakout toward $1.35. Analysts are monitoring a symmetrical triangle formation, though the broader daily trend remains constrained by a long-term descending channel.
Why it matters
Market movements in major cryptocurrencies like XRP reflect broader investor sentiment and technical trading strategies within the digital asset sector.
A move through that area could open the path toward $1.35, but the bigger daily chart still shows XRP trading inside a descending channel that has capped rallies for months.
• XRP traded near $1.13 on Monday, up about 4.6% over 24 hours, according to CoinGecko data.
• The token’s 24-hour range stretched from $1.08 to $1.14, with market capitalization near $70.85 billion and 24-hour trading volume around $1.27 billion.
• Analyst Ali Martinez said on X that XRP’s monthly chart is showing a TD Sequential buy signal, while the hourly chart shows price consolidating inside a symmetrical triangle.
• Martinez said a breakout above $1.13 could open the door to a roughly 20% rally toward $1.35.
• XRP opened near $1.0925 and climbed as high as $1.1067 on CoinDesk Data’s 24-hour chart before extending toward $1.13 on CoinGecko.
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