XRP has jumped more than 4% in the past 24 hours, sharpening trader focus on a potential technical “triangle breakout” that some analysts say could push the token’s price towards $1.35 – even as a larger downtrend on the daily chart still looms.
The cryptocurrency, associated with US-based blockchain company Ripple Labs, was trading near $1.13 on Monday, up about 4.6% over the day, according to data provider CoinGecko. The move extended a short-term recovery that has emerged after several weeks of pressure within a broader descending channel.
At its highest point in the past 24 hours, XRP traded between $1.08 and $1.14, giving the token a market capitalisation of roughly $70.85bn. Trading activity also picked up, with 24-hour volume estimated at around $1.27bn.
Traders focus on key $1.13 breakout level
Technical traders are currently watching the $1.13 level closely, describing it as a critical short‐term resistance zone.
Analyst Ali Martinez said on social media platform X that XRP’s monthly chart has flashed a TD Sequential buy signal – a popular indicator used by some traders to identify potential trend reversals. On the hourly timeframe, Martinez noted that the price has been consolidating within a symmetrical triangle, a pattern formed by converging trendlines of lower highs and higher lows.
Martinez said a breakout above $1.13 could open the door to a rally of roughly 20% towards $1.35, should buyers maintain momentum.
Data from CoinDesk show XRP opened the latest 24‐hour session near $1.0925 and climbed as high as $1.1067 before extending its move towards $1.13, in line with CoinGecko’s readings. The token spent several hours trading sideways between about $1.09 and $1.11 before buyers pushed it higher during the morning session, accompanied by a rise in volumes.
Analysts say holding above the $1.08–$1.10 region has helped preserve the short‐term recovery structure, with $1.13 now seen as the immediate line that bulls must overcome to confirm a clean breakout from the triangle pattern.
Bigger picture still shows downtrend
Despite the short-term optimism, the broader technical picture for XRP remains more cautious.
On the daily chart, the token is still trading inside a descending channel that has capped rallies for several months. Both the 100‐day and 200‐day moving averages sit above the current price and are sloping lower, signalling that the longer‐term trend is still under pressure.
The area between $1.24 and $1.28 is viewed as a major resistance zone. It coincides with the upper boundary of the descending channel and overlaps with those key moving averages, making it a significant hurdle that XRP must clear before any sustained reversal can be confirmed.
Below current levels, support is considered strongest in the $1.02–$1.06 band, where buyers have repeatedly stepped in during recent weeks. Analysts suggest that a decisive break beneath this zone could leave XRP vulnerable to a deeper pullback, potentially exposing the $0.88–$0.92 region.
Until the token pushes decisively through the $1.24–$1.28 zone, market observers say the current move remains a short‐term breakout attempt within a larger downtrend rather than a confirmed change in the longer‐term direction.
Wider crypto trading activity picks up
The jump in XRP comes against a backdrop of rising activity on centralised cryptocurrency exchanges (CEXs) more broadly.
Industry data indicate that CEX trading volumes rose in June for the first time in five months. Spot trading climbed 15.3% to reach about $1.11tn, while real‐world asset (RWA) perpetual futures volumes surged to a record $311bn.
Market participants say the rebound in volumes could be supporting short‐term moves across major tokens, including XRP, as liquidity improves and more traders re‐enter the market following a quieter period earlier in the year.
