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XRP eyes $3.07 breakout as October ETF buzz builds.
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Market watchers await confirmation candle to sustain bullish XRP momentum.
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$4.20 target emerges as traders monitor XRP’s critical resistance.
According to analyst EGRAG CRYPTO, XRP is approaching a decisive moment on the three-day chart. A symmetrical triangle pattern has compressed price action, leaving traders anticipating a sharp breakout.
The critical level to watch is $3.07, which has been identified as the confirmation point for bullish momentum. A strong candle close above this level within the next two days would validate the breakout scenario and potentially open the way for higher targets.
If XRP fails to hold above $3.07, however, support at $2.77 will become the next focus. A breakdown below this area could push the price toward $2.00, which is marked as the minimum measured move on the downside. This dual possibility highlights why the next sessions are considered crucial for XRP’s direction.
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Market Sentiment and Technical Positioning
The technical setup gains further weight from the 21-day exponential moving average, which sits near the triangle base. Holding above this moving average would provide additional strength for a bullish move, while slipping below it could weaken sentiment.
At the same time, the XRP community is closely observing developments as price action narrows within the formation. With the Ripple versus SEC appeals already dismissed, regulatory concerns no longer dominate market discussions. Moreover, anticipation surrounding a potential XRP ETF in October has fueled optimism, shifting market focus toward technical signals and their influence on the next trend.
Spotlight on the $4.20 Target
The analysis identifies $3.99 as the first major resistance if momentum builds, with $4.20 highlighted as the maximum projected target from the triangle breakout. This level represents the ultimate bullish objective and would confirm strong upward continuation if achieved.
For now, the immediate focus remains on whether XRP can secure a close above $3.07. Success in doing so would place $4.20 firmly within reach, while failure could trigger a deeper retracement back toward the $2.00 zone.
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