XRP Eyes $6 After Breaking Six-Year Triangle
XRP price surged to $3.61 after a weekly close above $3 confirmed a bullish reversal from a six-year symmetrical triangle. Chartist Ali Martinez forecasts a move to $6 based on the 1.272 Fibonacci extension, with higher targets near $7.94 and $26. Derivatives data show spot volume up 45.5% to $19.41 billion, open interest up 4.4% to $11.15 billion and options volume up 137.7%, reflecting rising speculative demand. On-chain metrics highlight more than 2,700 whale wallets holding at least 1 million XRP, controlling nearly half the circulating supply. A golden cross on the MVRV ratio signals renewed investor optimism. Future momentum hinges on sustaining support above $3; a drop below $2.85 could invalidate the breakout. The launch of XRP futures ETFs and ongoing spot ETF speculation may further fuel price gains toward $6 if bullish momentum holds.
Bullish
The six-year triangle breakout and weekly close above $3 point to strong bullish momentum for XRP price. On-chain data showing massive whale accumulation and a golden cross on the MVRV ratio reinforce investor optimism. Derivatives volumes are surging, and ETF developments add institutional demand. In the short term, sustaining support above $3 should fuel further gains toward $6. Longer term, continued network growth and ETF approvals will determine if the uptrend holds beyond initial targets.