XRP Holds Strong at $2.19 Amid Breakout Hopes

XRP shows bullish signals with whale accumulation, potential ETF approval, and technical patterns suggesting a breakout - IcoHolder.

XRP is maintaining a steady price near $2.19, showing resilience despite a slight 0.3% dip over the past week. This consolidation phase is fueling speculation among traders that a significant breakout could be imminent, driven by bullish technical patterns and rising institutional interest.

On shorter timeframes, XRP is forming bullish structures, marked by higher highs and higher lows. While a decisive upward move has yet to occur, market analysts point to a growing upside momentum. Crypto analyst Fabio Zuccara has highlighted a symmetrical triangle forming on the charts, a pattern that often precedes sharp price movements. XRP currently sits above its 20-day Simple Moving Average (SMA) at $2.167, with a key resistance level looming at the 50-day Exponential Moving Average (EMA) near $2.208.

A successful breakout above this resistance could open the door to higher targets, including $2.27, $2.33, and possibly above $2.50. However, a failure to gain traction might trigger a pullback toward support levels at $2.068 or even $1.993.

Adding to the bullish sentiment is clear evidence of whale accumulation. On-chain data reveals that over 200 million XRP were accumulated last week by wallets holding between 10 million and 100 million tokens. One notable transaction saw 29.5 million XRP—worth more than $64 million—transferred to Coinbase. Sasha Varela, senior analyst at ChainWave Metrics, noted this volume was “not retail-driven,” suggesting that well-informed investors are positioning ahead of a potential major move.

Speculation around a spot XRP ETF, possibly from ProShares, is also fueling optimism. Analysts currently estimate an 80% chance of approval, which could spark a wave of buying activity. “ETF anticipation alone can drive FOMO-led rallies,” said Linda Moh, ETF strategist at WaveX Funds, pointing to how technical strength and whale activity are converging to amplify bullish sentiment.

Long-term forecasts remain optimistic. Crypto analyst Dark Defender believes XRP is in the final stage of a fifth-wave Elliott structure, projecting price targets of $3, $4.40, and even $6.30—provided XRP maintains support above $2.00. The next key level to watch is $2.208; a breakout above this threshold could mark the beginning of XRP’s next upward leg.

As technical signals, institutional flows, and ETF speculation align, traders and investors alike are watching closely to see whether XRP will break through resistance and redefine its market trajectory.