XRP Holds Golden Retrace At $2.90: Wave 3 Breakout To $5.4 In Sight

XRP has been holding steady in recent days, even as Bitcoin dropped to $110,500 and has struggled to reclaim $112,700 in the past 24 ￰0￱ Bitcoin, XRP has avoided printing a new low and instead bounced around $2.90 to $2.91. According to crypto analyst Captain Redbeard, XRP’s price action is now breaking out of a massive multi-year triangle pattern, and it could be gearing up for another parabolic ￰1￱ Breaks Out Of Multi-Year Triangle According to Captain Redbeard’s analysis, which was first posted on the social media platform X, XRP has completed a breakout from a triangle ￰2￱ breakout is very notable, considering it’s a move above a multi-year consolidation structure that has been developing since the last bull ￰3￱ Reading: Crypto Analyst Says XRP Bull Run Hasn’t Begun, Sets Course For $37 As noted by Redbeard, “history doesn’t repeat, but it sure does rhyme.” Speaking of history, this exact setup appeared during 2017 before XRP surged to its previous all-time high of $3.4 in ￰4￱ breakout from such a long-term compression is particularly significant because it suggests that years of sideways movement have now built up enough energy for a strong directional ￰5￱ 2-week candlestick price chart he shared shows XRP’s breakout of the triangle in early 2025.

However, XRP’s price action in the past few months has seen the crypto consolidating with a parallel channel just above the 1.0 Fib extension level, just like it did in the middle of 2017 after a similar breakout. However, the consolidation pattern is now coming to a close, and if history repeats itself, XRP could be on track for a similar ￰6￱ terms of a price target, the analyst’s chart projected a run to as high as $27. Golden Retrace Support At $2.90 Captain Redbeard’s analysis captures the macro breakout, and the price target could take years to manifest. However, a shorter analysis of the 4-hour candlestick timeframe shows that XRP must hold firm above $2.90.

Related Reading: Analyst Says XRP Is Going To At Least $5 This Year, Here’s When To Buy This context is based on an analysis by crypto analyst ￰7￱ Bitcoin, which recently dropped to $110,000 and is struggling to reclaim a 0.236 fib retrace at $112,700, XRP has shown greater ￰8￱ token has held firm around $2.90 to $2.91, which corresponds to the golden retracement level at 0.618 ￰9￱ Elliott Wave theory, this is the area where a corrective Wave 2 typically finds support before a much stronger upward Wave 3 ￰10￱ identified $3.12 as the immediate confirmation point to watch. A clean break above this level would validate the bullish structure and set XRP on course for higher Fibonacci ￰11￱ projections highlight $4.48 as the next significant resistance zone and $5.40 as the ultimate Wave 3 price ￰12￱ the time of writing, XRP is trading at $3.02, up by 3.4% in the past 24 ￰13￱ image from Pexels, chart from ￰14￱