XRP climbed about 4% in the last 24 hours, with traders eyeing a symmetrical triangle pattern that could push the token toward $1.35 if it breaks above resistance. The move comes as volume picked up 20% and the Relative Strength Index (RSI) turns bullish, signaling renewed buying pressure.
The Symmetrical Triangle Setup
On the daily chart, XRP is consolidating within a symmetrical triangle — a pattern defined by lower highs and higher lows that converge as the price narrows. This formation often precedes a sharp breakout, though the direction isn't guaranteed. In this case, the upper boundary sits around $1.28, a zone where supply has repeatedly capped gains. The lower edge sits near $1.08, where buyers have stepped in to defend the price.
Traders watch triangles for clues about which way the coin will break. A surge above $1.28 would likely confirm an upward move, opening the path to $1.35, a level not seen in recent weeks. But if the price fails to clear that resistance, it could slide back toward the triangle's support floor.
Key Levels and Volume Surge
Volume jumped 20% during the latest rally, a sign that the move has real backing. That's a contrast to the past few sessions, where activity was relatively subdued. The 50-day simple moving average (SMA) at $1.20 is acting as a key support level — the price has held above it in the current uptick, giving bulls a reason to stay optimistic.
Resistance near $1.24 to $1.28 has been tough to crack. XRP touched that area before and pulled back. The recent price action suggests the market is testing that supply zone again, but with stronger volume and a more bullish technical picture.
Technical Indicators Align
The RSI is trending upward toward 60, a level that indicates buying momentum is building but not yet overdone. Readings above 50 generally favor the bulls, and the current trajectory suggests the rally could extend if the pattern breaks to the upside.
The 50-day SMA provides a floor, but the triangle's narrowing range means a decision is coming soon. If the price stays above $1.20 and the RSI keeps climbing, the odds of a breakout increase. Conversely, a drop below the SMA would warn that the triangle might resolve to the downside.
For now, traders are watching the $1.28 level. A clean break above that — preferably on volume — could set the stage for a run to $1.35. Whether that happens depends on whether buyers can sustain the momentum they've shown in the last 24 hours.
