Architectural Concept Design Collection

  • CONTACT
  • MARKETCAP
  • BLOG
Finances Investing and Crypto News
  • BOOKMARKS
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Reading: XRP price targets 39% upside after rebounding from key support
Share
  • bitcoinBitcoin(BTC)$123,234.21
  • ethereumEthereum(ETH)$4,522.73
  • binancecoinBNB(BNB)$1,302.12
  • tetherTether USDt(USDT)$1.00
  • rippleXRP(XRP)$2.90
  • solanaSolana(SOL)$228.78
  • usd-coinUSDC(USDC)$1.00
  • dogecoinDogecoin(DOGE)$0.256797
  • tronTRON(TRX)$0.341916
  • cardanoCardano(ADA)$0.84
Finances Investing and Crypto NewsFinances Investing and Crypto News
0
Font ResizerAa
  • Finance
  • Investment
  • Crypto
  • Market
  • News
Search
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finances Investing and Crypto News > Blog > Market > XRP price targets 39% upside after rebounding from key support
Market

XRP price targets 39% upside after rebounding from key support

admin
Last updated: 02/09/2025 2:29 Chiều
admin
Published 02/09/2025
Share


XRP price could be eyeing a strong rally as bulls manage to defend a key support, which could act as a springboard for a move to as high as $3.8 in the coming days.

Summary

  • XRP price rebounded after hitting a key support level.
  • The token was trading within a multi-month descending triangle.
  • A successful breakout could push XRP to target a 39% rally.

According to data from crypto.news, XRP (XRP) was trading at $2.79, up 3.1% in the past 24 hours and 56% from its lowest point this year. 

The token’s market cap stood at $166 billion, while its trading volume stood 70% higher than the previous day as its price rebounded suggesting demand from spot traders was accelerating amid renewed bullish sentiment.

XRP’s gains came as bulls managed to defend the $2.70 support level, a zone that has served as a key support area since mid-July. Analysts believe XRP needs to hold this level to sustain a potential rebound in the coming days.

A look at the daily chart shows that the XRP price has been trading within a descending triangle pattern for the past seven weeks.

XRP price has formed a descending triangle pattern on the daily chart.
XRP price has formed a descending triangle pattern on the daily chart — Sep. 2 | Source: crypto.news

For the uninitiated, the pattern, which typically hints at a sustained bearish trend, is formed by a series of lower highs converging toward a horizontal support level. In XRP’s case, the $2.70 level has acted as the base of the pattern and serves as a critical support zone for the token’s price.

Based on the pattern, the token’s price could now be targeting a move to $2.96, which represents the most recent lower high within the pattern.

If bullish momentum remains intact, a breakout above this level could trigger a rally toward $3.88, the projected target based on the height of the triangle. At press time, the target level lies 39% above the current price level.

Multiple bullish catalysts in play

Several recent catalysts could act as a tailwind for the bullish rally.

First, the main catalyst for XRP price this month will be the October deadline for the U.S. Securities and Exchange Commission to greenlight some of its ETFs. As such, the token may benefit from the positive sentiment among investors who anticipate approval now that the odds have increased to over 80%.

Another factor that could support XRP gains is the renewed interest gained from whales recently.

During the two-week market correction XRP faced earlier, whale wallets reportedly purchased over 340 million XRP, equivalent to roughly $962 million, while exchange outflows climbed by $268 million.

This suggests major players could be quietly accumulating XRP, a move that could drive interest among retail traders who closely monitor on-chain whale activity as a signal of potential bullish momentum ahead.

Additionally, institutions also seem to be eyeing XRP. According to an earlier report from crypto.news, Japan-based gaming company Gumi, which is publicly listed and backed by SBI Holdings, has revealed plans to acquire around $17 million worth of XRP for its corporate treasury. 

This development highlights growing recognition of XRP not just as a speculative asset, but also as a long-term store of value for enterprises.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

You Might Also Like

Ethena prints golden cross that preceded 87% rally in 2024

Why is Bitcoin down today? Here are three key drivers of the $113,000 drop 

Pudgy Penguins launches music label as PENGU price eyes a breakout

ONDO drops 12% this week, breaks key structure — can the $0.80 support hold?

Top gainers and losers in crypto this week

TAGGED:keypricereboundingsupporttargetsupsideXRP

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article BRC2.0 brings Ethereum’s virtual machine to Bitcoin’s token layer
Next Article 2025 will make tokenized real-world assets mainstream
Leave a Comment

Để lại một bình luận Hủy

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Follow US

Find US on Socials
FacebookLike
- Advertisement -
Ad image
Popular News
Emergency Funds: Importance and How to Build One
Debt Management: Strategies to Pay Off Debt Efficiently
Riot Platforms unloads 475 BTC in its biggest single-month Bitcoin sale to date
Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users
Here’s why altcoins like Stacks, Flare, Jasmy, and Dogecoin rising
- Advertisement -
Ad image

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Finances Investing and Crypto News

FICN.net brings you the latest in finance, investment, and crypto. Stay informed with expert insights, market analysis, and beginner guides. Whether you're new or experienced, FICN.net helps you explore opportunities, manage risks, and make smarter financial decisions in a fast-changing world.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Ad image
© 2024 Finance, Investment, and Crypto News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?