XRP Price Set for Major Breakout: Will $2.75 Hold for a Surge to $3.75?

• XRP’s breakout above $2.75 could lead to a surge toward $3.75, with $1.63 as a downside risk if support breaks.
• The symmetrical triangle pattern signals a major price move for XRP, with key levels at $2.75 and $2.07 driving the next trend.
• Traders are closely watching XRP’s price action as it nears the apex, with breakout targets around $3.55-$3.77 or a dip toward $1.63.

Analysts anticipate a breakout because of XRP’s symmetrical triangular structure, which has recently brought it close to a price zone. The $2.75 level stands out as a key breakout point. If XRP sustains above this level, it could surge toward higher targets, potentially reaching $3.75 and beyond. However, a breakdown below the key support level at $2.0700 might push XRP towards downside targets near $1.6336. Consequently, traders are closely watching the price action for any signs of confirmation.

Symmetrical Triangle Analysis and Key Levels

A symmetrical triangle pattern, a traditional chart structure signifying consolidation, has been established by the price action of XRP/USD. The converging trendlines of the symmetrical triangle point to a time when prices will be tightening.

Source: Egrag crypto

As the price approaches the apex, traders expect a breakout that could define the next major price move. The critical resistance level for XRP is set at $2.7500, marked by the green horizontal line. A breakout above this level could lead to an upside target of $3.55, and possibly $3.77, depending on market momentum.

Support levels are equally important. The yellow zone highlights a critical support area at $2.0700, where price action may reverse if it holds. If the support breaks, a downward move toward $1.6336 or $1.6400 is likely. Therefore, XRP’s future price direction hinges on whether it can maintain its position above key levels like $2.7500. Traders are awaiting confirmation from volume levels and price action to signal the breakout’s direction.

Timing and Projected Movements

The symmetrical triangle’s apex is approaching, and key dates, including January 16 and January 31, 2025, could trigger price movements. These intervals coincide with critical levels in the triangle, adding further importance to these dates for traders. Additionally, as XRP moves toward the breakout zone, it’s essential to track both support and resistance levels closely. A failure to hold above $2.0700 could lead to a bearish continuation, while an upward break above $2.7500 could signal a strong bullish trend.