With XRP seemingly establishing itself solidly above the $2 help zone, the asset’s technical setup suggests a push towards a record high of $7 could also be within the offing.
This outlook comes just days after the token suffered one in every of its most notable sell-offs of the yr, briefly crashing under $2 earlier than bulls regained management consistent with broader market sentiment.
The bullish outlook towards the subsequent record high was highlighted by analyst Ali Martinez, who famous that XRP is forming a right-angled ascending broadening wedge, a sample that usually precedes massive breakout strikes when the decrease boundary holds.
In an X post on November 25, the analyst indicated that XRP is hovering just above the essential $2 help zone, a stage that has repeatedly served as the bottom of its multi-year construction.
Within the projection for early 2026, XRP is anticipated to rebound from this space and start a gentle climb towards the higher boundary of the wedge close to $4.50. This vary has acted as long-term resistance and represents the primary main hurdle forward.
If XRP manages to break by means of that ceiling, the sample’s full upside extension factors towards a transfer past $7. Notably, the token’s present formation exhibits rising volatility inside a widening construction, usually signaling mounting strain earlier than a decisive transfer.
For now, the market’s focus is on the sustainability of the $2 flooring. Your entire bullish roadmap will depend on whether or not XRP can defend this stage and set off the reversal implied within the sample.
A worth goal of $7 would indicate a market cap of roughly $440 billion, inserting XRP just behind Bitcoin (BTC).
XRP’s elevated shopping for strain
Certainly, XRP has discovered renewed bullish momentum, with the asset witnessing elevated shopping for strain over the previous 24 hours. As of press time, its market cap stood at about $135 billion, representing an influx of $11 billion inside a day.
Moreover renewed broader cryptocurrency market momentum, XRP additionally obtained a lift as newly launched spot exchange-traded funds for the asset noticed vital shopping for strain.
Franklin Templeton’s XRPZ and Grayscale’s GXRP debuted on NYSE Arca, opening recent regulated entry for U.S. establishments.
The launches triggered a pointy rotation into the asset at a time when the broader crypto market was experiencing heavy outflows.
Franklin Templeton additional intensified momentum by waiving charges on the primary $5 billion of XRPZ property till Could 2026, a transfer that boosted early liquidity and attracted sturdy participation from skilled buying and selling desks.
XRP worth evaluation
By press time, XRP was buying and selling at $2.23, having rallied virtually 8% prior to now 24 hours, and is up 3% on the weekly chart.
On the present worth, XRP’s easy transferring averages (SMAs) paint a clearly bearish image: the 50-day SMA at $2.42 and the 200-day SMA at $2.65 each sit above the spot worth, signaling sustained downward strain as XRP trades effectively under these longer-term averages, an indication of weak point with out near-term help.
The 14-day RSI of 48.97, however, reinforces this neutral-to-bearish stance, hovering close to oversold territory however not but at ranges excessive sufficient to set off a robust rebound, suggesting momentum stays subdued, and merchants might await a catalyst for reversal.
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