XRP Rebounds Over 6%: Chart Patterns, Key Levels, and Whale Activity Highlight Bullish Prospects

XRP has demonstrated a remarkable recovery, surging over 6% to reclaim momentum after a sharp weekend dip. As of September 24, XRP bounced back from $2.70 to $2.88, positioning itself for a potential breakout. Analysts point out that holding critical support levels will be pivotal as the asset eyes new highs. On-chain metrics and technical patterns suggest that XRP could chart a course toward $4 in the coming weeks if bulls maintain control.

Symmetrical Triangle Pattern Indicates a 42% Price Rally Potential

Technical data from Cointelegraph Markets Pro and TradingView highlights XRP forming a symmetrical triangle pattern on its daily chart. This pattern—marked by converging trendlines—typically signals a period of price consolidation followed by a major breakout. In XRP’s case, a breakout above the triangle’s resistance zone at $3 could act as a strong signal for price reversal, with a projected target of $4.08, representing a potential 42% gain from current levels.

Before achieving this bullish target, XRP must clear two critical resistance points: $3.40 and $3.66. The latter is a significant level, marking an eight-year high that buyers will need to reclaim.

Market analyst CasiTrades noted that XRP is also forming a double-bottom pattern near $2.70 on the 4-hour chart. “As long as prices stay above $2.70, the setup remains valid within Wave 2 analysis,” he stated, emphasizing the importance of the $2.70-$2.79 range as strong support. Conversely, a break below $2.70 could drag XRP down to $2.58. On the upside, Fibonacci retracement analysis points to $4.00 and $4.40 as next resistance tiers.

Another respected cryptocurrency analyst, CryptoBull, believes that XRP could climb as high as $5 in October if it breaks out of its current bullish flag pattern, further fueling optimism among traders.

Whale Accumulation Bolsters Support Levels and Investor Confidence

On-chain data from Santiment reveals that large XRP holders have been accumulating significant amounts of the cryptocurrency over the past week. Wallets containing between 1 million and 10 million XRP have collectively added over 30 million XRP during just two days—Monday and Tuesday—bringing their total holdings to 6.77 billion XRP, equivalent to 11% of the total circulating supply.

The uptick in whale buying signals growing confidence in XRP’s market position, particularly as prices recovered from the recent low of $2.70. Increased whale accumulation not only provides a sturdy price floor by absorbing seller pressure but also sets a positive tone for the broader market, encouraging smaller investors to follow suit.

Since late August, a noticeable shift in holding patterns has emerged, with more wallets transitioning into net accumulation mode. This runs in contrast to July and early August when many investors engaged in profit-taking following XRP’s climb to its multi-year high of $3.66. The price range between $2.70 and $3 has now solidified as a critical accumulation zone, reflecting a change in sentiment toward longer-term positioning over short-term speculation.

Key Takeaways: Support Zones and Momentum Indicators

The recent accumulation trend and robust technical signals suggest that XRP is laying the groundwork for an extended upside rally. The range of $2.70 to $3 has become a focal point for traders as both a strong support zone and a catalyst for further upward movement. Analysts remain optimistic about XRP’s potential, with projections of $4 or higher becoming increasingly plausible if momentum continues.

As whale buying recently intensified and more investors enter accumulation phases, XRP appears poised to capitalize on its gains. However, key resistance levels at $3.40 and $3.66 will be vital proving grounds. Breaking past these thresholds could set XRP on the path to retest—and potentially exceed—$4, establishing a new milestone for the cryptocurrency.