XRP is forming a multi-year ascending triangle pattern on its monthly chart, indicating accumulation since 2021 according to technical analysis. Key support levels are identified at $0.90, $1.38, and $1.60, with major resistance at $3.32. A breakout above that level could initiate a significant move higher. The potential for U.S. regulatory clarity for cryptocurrencies could also boost market confidence.
Technical analysis of XRP’s monthly chart shows a multi-year ascending triangle formation. The pattern has respected a rising support line since 2021, with higher lows signaling accumulation.
According to the crypto analyst Ali Charts, immediate support levels stand at $0.90, $1.38, and $1.60. A clear resistance level is defined at $3.32, which marks the triangle’s flat top.
A bullish breakout above $3.32 could trigger a surge toward measured targets. The chart suggests medium-term potential around $27.17 and an ultimate long-term target of $48.12.
Current technical indicators show the RSI reading is 34.27, close to the oversold zone. This suggests the market is consolidating after a period of strong downside momentum.
The MACD line is at -0.29078, below its signal line and the zero line. This confirms ongoing bearish momentum in the shorter term.
In a related development, U.S. President Donald Trump hinted that a cryptocurrency market structure bill is ready for passage. The proposed legislation would establish clear regulatory guidelines for cryptocurrencies, exchanges, and token issuers.
Analysts say the bill could transform the sector by bringing in capital and supporting blockchain startups. Assets like XRP could benefit from clearer regulatory definitions, potentially spurring new growth.
