XRP Price Skyrockets 20% —Is $5 the Next Target?
The XRP price has officially entered breakout territory.
In a dramatic 24-hour surge, the token soared more than 20% to reach a new all-time high (ATH) to reach its highest level since the 2017 bull run.
This explosive move was underpinned by institutional demand and aggressive breakout trading, punctuated by three major volume spikes that propelled XRP past key resistance levels and into price discovery mode.
More than 200 million XRP changed hands during each of the high-volume breakout windows at 05:00, 08:00, and 21:00 UTC, driving the XRP price above the $3.52–$3.53 resistance band. The $3.29–$3.30 range acted as a critical support base, with bulls absorbing selling pressure and asserting dominance throughout the session.
Daily chart for XRP/USD (Source: GeckoTerminal)
On the technical side, the XRP price had already been flashing bullish signals prior to the breakout. The MACD has shown expanding momentum to the upside in recent days, while the RSI hovered in overbought territory—often a hallmark of strong trend continuation.
The 9-day EMA remains comfortably above the 20-day EMA, further confirming bullish alignment in the short- to mid-term.
Order Book Analysis: Support and Resistance in Motion
The immediate outlook for the XRP price is heavily influenced by a thick cluster of bid walls between $3.50 and $3.5746, providing strong downside protection. If the XRP price slips, these layers could slow or even reverse a correction.
A breach of these levels, however, could see XRP lose up to 2.57%, potentially testing the $3.02 support zone—one of the key levels where prior accumulation took place.
On the upside, ask walls at $3.6068, $3.65, and $3.68 represent the next set of hurdles. Clearing these could unlock a further rally of 1.6% to 2.44%, possibly opening the path to fresh highs beyond $3.70. These walls are significant, but with the kind of volume seen during the recent rally, they may not hold for long.
Macro and Market Structure Drivers
Beyond chart patterns, macro drivers are also aligning in XRP’s favor. Open interest in XRP derivatives has surged past $10 billion for the first time since 2021, and funding rates have flipped positive—indicating strong appetite from long traders across major exchanges.
Also read: XRP’s Trump-Era Comeback: Can $25K in XRP Make You a Millionaire?
Analysts are beginning to revise their targets upward. Ryan Lee, Chief Analyst at Bitget, noted that medium-term projections for the XRP price could stretch to $5.89, contingent on favorable developments like ETF approvals and regulatory clarity. While Lee suggested some near-term consolidation is possible due to mixed technicals, the broader trajectory remains bullish.
Trade Setups: Long or Short?
For long traders, the ideal setup may involve a breakout and close above $3.68, with a stop below $3.50 to hedge against a failed breakout. Momentum traders may also consider accumulating near $3.30, the previous breakout base, if the XRP price retests that area on lower volume.
On the short side, any rejection near $3.65–$3.68, especially if accompanied by waning momentum or negative divergence on RSI, could present an opportunity for countertrend moves. A retest of the $3.02 zone could serve as a viable downside target for short-term bears.
Still, with XRP having gained nearly 70% in the past 30 days, the token has clearly become one of the strongest performers among major cryptocurrencies—fueled by a combination of institutional flows, breakout trading, and growing retail interest.
While short-term pullbacks may occur, the technicals, market structure, and on-chain dynamics point to a market that is still heavily favoring the bulls.
Want to buy XRP? Read our guide on how to do it safely.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred.Readers should exercise caution before acting on this content.
