XRP (XRP) has fallen almost 30% since reaching a seven-year high of $3.39 in January.
Still, bullish news like the potential settlement in Ripple’s SEC lawsuit and Dubai’s new licenses have fueled the rebound. As of March 24th, XRP reached $2.47, an increase of 38% from $1.79 a year-on-year.
XRP/USD Daily Price Chart. Source: TradingView
How much does XRP cost increase from here? Let’s look into it.
XRP Parallel Channel Project $2.77 Goals
The XRP is climbing within a rising parallel channel, indicating signs of strength pushing towards critical resistance levels.
Key Taker:
XRP/USD 4-hour price chart. Source: TradingView
The pair are now looking at a retest of $2.59 (0.618 Fibonacci retracement level), which was serving as a strong resistance to close the March 19th rally.
A successful breakout over this resistance can test the top trendline of the channel, with XRP close to $2.77 for Fibonacci levels.
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Market Analyst Dom highlights XRP above $2.50, which coincides with the highest mass-weighted average price of all time (VWAP) to maintain a bullish continuity.
XRP/USD 4-hour price chart. Source: tradingView/dom
The relative strength index (RSI) is above 60, indicating that it is building bullish momentum, not yet present in the territory that was bought.
XRP Symmetric Triangle Breakout Loom
XRP flashes a large bull signal on a higher timeframe chart, with price action wrapped inside a symmetrical triangle that suggests that a breakout rally could be on the horizon.
What I Know:
Symmetrical triangles are formed when prices are integrated within a triangle-like structure after a strong upward or downward trend.
Usually it resolves when prices erupt in the direction of previous trends and rises/decreases as much as the maximum height of the triangle.
XRP/USD 3-day price chart. Source: TradingView
The pattern of triangles formed after the 575% meetings of XRP between November 2024 and January 2025 has increased the prospects for further profits in the coming weeks.
If a breakout exceeds the Triangle’s top trendline, XRP prices could potentially send an XRP price of around 70% from the current price level by May.
Analyst Credibull Crypto also suggests that XRP is preparing to a new all-time high of over $3.40 in the coming weeks.
The XRP liquidation heatmap shows $2.66-2.98 as the following possible targets
The Binance XRP/USDT Clearing Heatmap reveals the major liquidity zones where major clearing events can occur. These levels act as magnetic zones and affect the direction of prices based on the amount of liquidity at a particular level.
XRP/USDT One-Month Liquidation Heat Map (Binance). Source: Coinglass
Key Points:
The liquidation of the high concentrations appears to be near $2.66, and the yellow area indicates clusters in leveraged positions, suggesting that it is a significant level of resistance.
If the $2.66 level is broken, the liquidation could be cleaned up and force short sellers to push prices towards their next major liquidity cluster: $2.98.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
