XRP is heating up – and one well-known crypto analyst thinks a major move could be just around the corner.
Crypto veteran Lark Davis, who has over 1.2 million followers on X, posted a chart highlighting a massive symmetrical triangle formation on the XRP daily chart. According to him, once XRP breaks out of this pattern, it could trigger a powerful rally with an upside target of $4.40.
This target isn’t pulled from thin air. Lark explains that the triangle’s height, when projected from the breakout point, lines up with the Fibonacci extension drawn from January’s high to April’s low. That confluence gives more weight to the idea that this breakout could be something big.
What the XRP Chart Is Showing
The chart clearly shows the XRP price tightening inside a symmetrical triangle, a structure that’s been forming for several months. These types of patterns typically signal a continuation or reversal once price breaks either direction, and right now, it looks like the breakout is happening to the upside.
At the time of writing, XRP is trading around $2.41, pushing above the triangle’s upper trendline. Technical indicators are starting to line up in favor of the bulls:
- MACD has crossed bullish and momentum is picking up.
- RSI is climbing and currently sits just above 62, with more room before hitting overbought levels.
- The 20 EMA, 50 EMA, and 200 EMA are starting to spread apart, a signal often seen during the early stages of big price moves.
If the breakout holds, XRP could quickly move to retest previous resistance levels around $2.80 and then potentially shoot toward the $4 range.
A Breakout with Perfect Timing?
This potential breakout comes at an interesting time for the broader market. Bitcoin is holding above $104,000 and Ethereum just reclaimed $2,500. Risk appetite is returning, and major altcoins are starting to move again.
Earlier today, we discussed the possibility of XRP hitting $3 this week in this article:
👉 XRP Price to $3 and Ethereum to $3K? AI Crypto Price Predictions for This Week
If Lark Davis is right, that prediction may have been conservative.
XRP has been consolidating for months and is now showing signs of waking up. With strong technicals, favorable market conditions, and bullish sentiment building, this triangle breakout could very well be the start of something bigger.
Lark Davis’ $4.40 target might sound bold, but in crypto, bold predictions often come true when the technicals and timing align. Traders should keep a close eye on how XRP performs in the coming days – this could be a move worth watching.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Read our recent crypto market updates, news, and technical analysis here.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
