After reclaiming the $3 resistance level, XRP has reignited its bullish momentum, with technical indicators pointing to a potential record high above $6.
In this line, cryptocurrency trading analyst Master Ananda noted that this move could play out within weeks, as XRP remains in the early stages of its bull market, according to a TradingView post on August 4.
As per the outlook, XRP recently found strong support just above the 0.618 Fibonacci level at $2.71, sparking an immediate rebound. A green daily candle reversed the drop and broke resistance, followed by another green candle that confirmed the bullish reversal.
Following the bounce at $2.71, XRP reclaimed the $3 mark. With support confirmed and the 0.382 level at $2.87 holding firm, traders are now eyeing the next Fibonacci extension targets, first at $4.4948 (1.618 Fib extension), followed by the primary target at $6.2768 (2.618 extension).
Ananda emphasized that this move is part of a broader 2025 bull market cycle, where bullish momentum is expected to persist.
He added that while some traders may wait for further confirmation, the technical rebound and swift recovery already signal a resumption, and possible acceleration, of the bullish trend.
XRP’s path to $4
Another bullish outlook was shared by pseudonymous crypto analyst Lord of Alts, who noted that XRP is on the verge of a major breakout. Technical charts show one of the largest bullish pennants in months, with the token holding firm above key support levels.
The pattern suggests consolidation ahead of a potential sharp move higher. If confirmed, the breakout could see XRP target the $4 mark.
XRP price analysis
At press time, XRP was trading at $3.04, up 1.2% over the past 24 hours, though down 3.6% on the weekly chart.
Currently, XRP is showing strength above both its 50-day and 200-day simple moving averages (SMAs), which stand at $2.68 and $1.88, respectively, highlighting solid medium- and long-term momentum.
Meanwhile, the 14-day Relative Strength Index (RSI) stands at 54.70, indicating neutral territory with a slight bullish tilt, suggesting there is room for further upside before the asset becomes overbought.
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