XRP moved above the key $1.40 resistance level on Wednesday, supported by improving market sentiment and strengthening technical indicators as the broader crypto market showed signs of recovery.
Summary
XRP broke past $1.40 and briefly tested $1.45 amid a wider market rebound.
A potential breakout from a symmetrical triangle could open the path toward $1.66 and possibly $2.
Bullish signals are building, with MACD turning positive and the Supertrend staying green.
XRP holds above breakout zone
At the time of writing, XRP was trading around $1.44 after climbing from an intraday low near $1.41. The token briefly hit $1.45 before entering a consolidation phase, holding above its previous resistance level.
The move comes as easing geopolitical tensions and softer oil prices improved risk appetite. Bitcoin and other major altcoins also traded higher, helping sustain XRP’s upward momentum.
Technical breakout in focus
On the daily chart, XRP is attempting to break above a descending trendline that has capped price action since early February. The token has reclaimed the key Murrey Math level near $1.36 and is stabilizing above important support zones.
Price action also remains within a broader symmetrical triangle pattern. A confirmed breakout from this structure typically signals the start of a stronger directional move after a prolonged consolidation.
If XRP clears both the descending resistance and the triangle’s upper boundary, the next major target lies near $1.66. Sustained momentum beyond that could push the price toward the $1.95–$2 range.
Momentum turning bullish
Indicators are increasingly favoring buyers. The Supertrend indicator remains in positive territory, while the MACD has formed a bullish crossover—both pointing to strengthening upside momentum.
Additionally, XRP has been forming higher lows since early April, suggesting a gradual improvement in market structure.
Key risks to watch
Despite the bullish setup, downside risks remain. Failure to hold above the breakout zone could lead to a pullback toward $1.36. A deeper correction might expose support near $1.27.
