XRP's Current Value Surpasses $3 Due to Inverse Head and Shoulder Formation - What Comes Next?
The broader altcoin market is witnessing a resurgence, with capital rotating back into major projects after months of muted activity. One such project that is attracting attention is XRP, which could be gearing up for its next big move.
Analysts view the recent consolidation of XRP as a sign of underlying strength among bulls. This consolidation, which saw XRP hovering near the $2.88-$2.92 support zone last week, is being interpreted as a precursor to a significant move.
The current XRP price is hovering near $3.01, and if the bulls maintain their momentum, immediate targets are set at $3.00, $3.045, $3.13, and the $3.30-$3.35 range. Analysts expect further upside toward $3.20 if XRP holds above $3.00, potentially $3.53.
Crypto market analyst @egragcrypto has projected a 'measured move' that could take XRP toward $3.045. This pattern suggests a potential rise in the XRP price, signalling a positive outlook for the digital asset.
The significant influence on the current XRP rally above $3 comes from institutional investors showing strong demand. This demand has been particularly triggered by the launch and approval of the first U.S. XRP ETFs, expected around mid-September 2025. This development opens access for institutional investing and fuels market interest.
Ripple Labs' ongoing developments and partnerships also actively promote XRP, alongside increased trading volumes and positive market sentiment linked to potential Federal Reserve interest rate cuts.
Confidence in an XRP ETF approval has surged to 98%, signaling strong market optimism. A strong breakout above $3.045 could trigger additional buying and accelerate the rally.
Intraday highs of XRP reached $3.02, and XRP has broken the red pressure line and re-entered the fork, hinting at a major move ahead. An inverse head-and-shoulders pattern has been confirmed in XRP, a classic bullish reversal signal. Strong buying pressure and over $6 billion in 24-hour trading volume fueled the move above the $3.00 barrier.
However, traders are advised to keep an eye on support near $2.88. A dip below this level could lead to a short-term pullback before buyers attempt another push higher. XRP was trading at around $3.01 at press time.
The latest breakout has put XRP firmly on traders' radars, and the digital asset is poised for an exciting ride in the coming days.
