Ripple (XRP) continues to remain in the limelight of the crypto market despite the increased volatility. Surviving the pullback over the weekend, the XRP price is hinting at a stronger comeback, potentially a new all-time high.
At present, the current market price of XRP is $2.18, with an intraday recovery of 1.3%. XRP prepares to skyrocket as it nears breaking out of a critical resistance. Will the breakout rally propel the XRP price to the $4 mark?
XRP Price Analysis Targets $4
Following the massive bull run in late 2024, the daily XRP price chart reflects the formation of a descending parallel channel. During the XRP pullback phase, traders witnessed a bottom at $1.79.
Bouncing off the local bottom near the support trendline, XRP is now challenging the upper boundary line. This sudden turnaround accounts for a price surge of 20% within the channel.
At present, the token struggles to overcome the overhead trendline, resulting in a minor consolidation and a loss of momentum. This sudden drop in momentum is reflected by the RSI line dropping to the halfway level.
However, as the broader market recovers, a potential breakout rally in XRP will likely result in a trend reversal. As per the Supertrend indicator, the XRP price must surpass the $2.35 mark to restart the bullish journey.
As per the trend-based Fibonacci levels, the potential price target for the breakout rally is the 50% Fibonacci level at $3.18. However, the potential approval of the XRP ETF and the surge in monthly volume on the XRP ledger could propel the token price to the 78.60% level at $3.98.
This fuels the anticipation of XRP reaching the $4.00 mark. On the flip side, the crucial support remains the $2.00 psychological level, followed by the $1.79 mark.
XRP Long Positions Hold Above 50%
As XRP hangs at a crucial crossroads, the derivative traders are extremely optimistic about the outcome. Based on the Coinglass data, the long positions over the past 8 hours have remained above the 50% mark.
Currently, the long positions account for 51.44%, resulting in a long-to-short ratio of 1.0593. With the marginally dominated bullish playing field, the derivatives traders are likely anticipating a breakout rally in the XRP price.
XRP ETF Approval To Fuel The Next Price Jump
Following the approval of the XRP Futures ETF, the broader market anticipation of a spot XRP ETF has significantly increased. Despite ETFs of multiple cryptocurrencies on hold, XRP ETF hype has constantly increased in the market.
As per the recent PolyMarket data, the hype around the Ripple ETF has reached 79%, expecting an approval before December 31. The growing hype is likely to fuel the potential breakout rally in the XRP prices.
Revival of Monthly Volume on XRP Ledger
As per TheBlock, the monthly volume on the XRP ledger accounted for a transaction count of 16.17 billion XRP in April 2025. This marks a minor improvement compared to the transaction count of 16.05 billion XRP in March 2025.
Since November 2024, the overall trend of the monthly volume on the XRP ledger has been declining. However, the recent minor recovery hints at a new cycle of increased adoption.
With the higher transaction volume, the XRP ledger will witness increased activity, signaling stronger utility or adoption.
The post XRP Price Nears Channel Breakout, Is $4 The Next Stop? appeared first on CoinGape.
