TLDR:
- XRP forms a triangle with five-wave structure; D wave may push price to $2.40.
- Volume decline aligns with triangle consolidation, hinting at a near-term breakout.
- $2.40 seen as Point of Control, acting as magnet level for the current bullish leg.
- XRP rose 6.77% in 24 hours; traders now watching $2.40 resistance and $1.90 support.
The price of XRP has risen steadily, backed by growing interest in a possible triangle formation developing on its chart. Analysts tracking the token suggest the current move may be part of a larger corrective pattern.Â
A top crypto analyst has shared expectations of a potential leg higher before a final dip. This technical structure, if it holds, could steer XRP price movement in the short term. Key levels that could influence whether the bullish scenario plays out are now in focus.
Triangle Structure Shaping XRP Price Outlook
A recent analysis from crypto analyst Hov suggests XRP is forming a triangle pattern that is currently unfolding its D wave.Â
The pattern includes five legs labeled A through E, common in Elliott Wave theory. XRP appears to be nearing the lower boundary of the triangle around $1.90, with potential for a rebound toward $2.40.
The analyst emphasized that the triangle is showing a declining volume profile, a common indicator during such consolidation phases.Â
We nailed that expected dump for XRP right into the area we expected (threaded)
Now potentially working on the D of the triangle
Last time I mentioned volume profile of a triangle where we see decreasing volume as we move to the apex( ie E)
That’s exactly what we’re… pic.twitter.com/Iyamv2ZU9C
— Hov (@HovWaves) June 24, 2025
According to Hov, the expected bounce to $2.40 could create the necessary space for a final E wave pullback, completing the formation. This would suggest a continuation of the overall corrective move before any breakout direction becomes clear.
Decreasing volume near the triangle’s apex has interested technical traders.Â
Historically, declining volume inside a contracting triangle points to consolidation before a breakout. This pattern has held firm so far, with XRP now consolidating between the $1.90 and $2.40 range.
The $2.40 area also serves as the triangle’s Point of Control, a price region where heavy trading activity has previously occurred. Hov noted this level may act as a magnet for the current D wave, reinforcing the idea of a short-term upward move.
XRP Price Action Shows Early Momentum
Per the latest CoinGecko data, XRP is trading at $2.20 after a 6.77% rise over the last 24 hours.Â
The seven-day chart shows a mild gain of 1.11%, reflecting relatively calm market behavior. This price action aligns with the ongoing triangle consolidation seen on the chart.
Despite recent gains, caution remains. The structure could still shift if the B wave behaves unpredictably, though this remains a secondary concern in the current setup. Traders are closely monitoring how XRP behaves near the $2.40 resistance and $1.90 support levels.
The key levels driving the short-term outlook are $2.40 on the upside and $1.90 as support. A move toward $2.40 would support the expected D wave scenario.Â
Any rejection or reversal near that level could mark the start of the E wave, completing the triangle.
The post XRP Price Climbs as Triangle Pattern Signals Possible Move Toward $2.40 appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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