XRP, the third-largest cryptocurrency by market cap, has recorded a significant price breakout, reaching $3.61 and opening up new growth prospects.
Six-Year Breakout
Since early 2018, XRP has been consolidating, forming a symmetrical triangle. This pattern, usually signaling a major price move, has now broken upward. The breakout has been confirmed by a strong weekly close above $3, signaling the end of an accumulation phase and the potential beginning of a sustained bullish cycle.
Target at $6
The $6 target is based on both classical charting techniques and Fibonacci analysis. Analyst Ali Martinez emphasizes that the 1.272 Fibonacci extension level from the triangle’s formation projects to $6. If momentum continues, even higher targets are suggested, though analysts agree that the $4 to $6 range is the most realistic for the coming weeks.
Whale Activity and Market Prospects
Encouraging on-chain fundamentals accompany XRP's technical strength, with over 2,700 wallets now holding at least 1 million XRP each, controlling nearly half of the circulating supply. Additionally, a golden cross on the Market Value to Realized Value (MVRV) ratio indicates a shift toward bullish sentiment among investors.
With XRP firmly at $3.61, analysts widely agree that a sustained rally toward $6 is achievable. However, maintaining momentum above $3 is crucial; should it falter, there could be a revisitation of key support zones.
