XRP surges 4% toward $1.35 as triangle breakout traders watch $1.13
XRP jumped about 4.6% to around $1.13 over 24 hours as traders monitored a short-term symmetrical triangle “triangle breakout” setup. The immediate trigger is a sustained hold above $1.13; if confirmed, analysts expect a move toward $1.35 (about a 20% upside scenario cited by Ali Martinez).
On the hourly chart, price has been compressing between a tightening range inside the triangle, with a recent push higher and increasing volume. However, the broader daily structure remains cautious: XRP still trades within a descending channel where rallies have been capped for months. Traders are watching the larger resistance band at $1.24–$1.28 to confirm a stronger reversal.
Key levels to track: support at $1.02–$1.06. Losing that demand zone could expose the $0.88–$0.92 area. Near-term reference points include $1.14 as the next level after the latest 24-hour top. Until XRP breaks above the $1.24–$1.28 resistance, this looks more like a breakout attempt inside a larger downtrend channel than a confirmed trend change.
Keywords: XRP, triangle breakout, $1.13, $1.35, resistance $1.24–$1.28, support $1.02–$1.06.
Bullish
This news is bullish in the short term because XRP has broken upward inside a tightening symmetrical triangle and is pressing the key breakout level near $1.13. A sustained reclaim/hold above $1.13 typically improves probability of follow-through, and the article cites a potential route toward $1.35 if the pattern resolves upward.
That said, the daily chart still shows XRP inside a descending channel, with major resistance at $1.24–$1.28. Historically, breakouts that look good on the hourly chart but fail to clear higher resistance bands often lead to pullbacks or “bull traps.” Therefore, traders may treat this as bullish momentum with conditional confirmation: hold above $1.13 favors long entries and trend continuation bets, while a breakdown back toward $1.02–$1.06 would weaken the setup and could invite downside rotation to $0.88–$0.92.
Longer term, the market stability hinges on whether XRP can convert the short-term structure into a daily reversal by clearing $1.24–$1.28. Until then, the move is best framed as an early reversal attempt rather than a fully confirmed change in trend.