XRP News Today: XRP Eyes $2.72 Breakout While Holding $2.43 as Key Support

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XRP News Today: XRP Eyes $2.72 Breakout While Holding $2.43 as Key Support

Bitget-RWA2025/11/04 02:20

By:Bitget-RWA

- XRP trades at $2.51, forming a descending triangle pattern with key support at $2.30 and resistance at $2.72 Fibonacci level. - ETF optimism and $200M on-chain buying signal renewed retail/institutional interest, mirroring 2017 bull market dynamics. - Ripple's Nov 1 XRP unlock (2.5B value) and re-lock strategy will test market confidence amid macroeconomic uncertainties. - Institutional adoption and real-world use cases could drive XRP toward $3 if it breaks above $2.70 resistance zone.

XRP has entered a crucial technical formation as its price slipped 6% to $2.51, prompting traders to focus on significant support and resistance zones in anticipation of a possible

breakout

. The digital asset has been consolidating within a descending triangle, bounded by the 50-day EMA at $2.66 and a gradually rising support near $2.30, putting it at a decisive crossroads. Should XRP manage to close above $2.72—which matches the 0.5 Fibonacci retracement—it could rally toward $3.25, where the 0.786 retracement and the upper boundary of the triangle intersect. On the other hand, a move below $2.43 could see the token revisit support at $2.16 or test a broader demand area around $1.76.

This price action comes amid growing optimism around ETFs, which analysts believe may encourage accumulation ahead of the ETF approval period. Although on-chain data shows a net inflow of $200 million—much less than the $200 million surges seen in July—it signals renewed interest from spot market participants. Historically, such capital inflows have often preceded short-term price surges, especially when regulatory developments are in play. This effect is further supported by overall crypto market momentum, with

Bitcoin

climbing 2% to $110,400 and

Ethereum

gaining 1.6% to reach $3,845.

XRP News Today: XRP Eyes $2.72 Breakout While Holding $2.43 as Key Support image 0

At the same time, Ripple’s upcoming

release of 1 billion XRP

(worth about $2.5 billion) on November 1 has sparked discussion about its potential effects on the market. Ripple generally re-locks 70–80% of the tokens it unlocks, which helps to limit sudden increases in supply, but traders are watching the re-lock ratio as an indicator of Ripple’s liquidity approach. Most analysts foresee little immediate price impact, though they warn that a smaller re-lock could point to greater distribution or funding activity ahead of 2026.

Interest from institutional investors in

XRP

is also on the rise, with some experts comparing the current setup to the

2017 bull run

. A sustained move above $2.70 could pave the way for a climb to $3 or higher, especially if corporate treasuries and real-world asset transactions on the XRP Ledger pick up speed. Still, the token’s medium-term outlook remains uncertain. If XRP drops below $2.30, it could accelerate losses toward the $2.10–$2.20 range, a risk heightened by thin weekend trading and broader economic headwinds, according to an

XRP price outlook

The combination of ETF enthusiasm, institutional capital, and Ripple’s management of token supply is likely to shape XRP’s next direction. While bulls are targeting the $3.00–$3.20 resistance band, bears will try to maintain the triangle pattern by keeping prices under $2.43. With the Federal Reserve’s recent policy shift and continued positive trade sentiment, the next few weeks could prove pivotal for XRP’s evolution from a retail-focused asset to one favored by institutions.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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