- XRP breaks key resistance, signaling the start of a powerful Wave 3 rally.
- Fibonacci targets show potential upside to $13.59 if bullish momentum continues.
- Trader sentiment turns bullish, with long positions dominating across major exchanges.
Ripple’s XRP is making noise again—and this time, it’s not just hype. Traders and technical analysts are watching closely as bullish momentum builds fast. After months of sluggish sideways movement, XRP has exploded past key resistance, reigniting confidence in its long-term potential. One analyst, known as XRPunkie, believes this marks the start of a powerful Wave 3 based on Elliott Wave theory. That’s the phase where serious price action happens—and where fortunes are often made or lost.
Price Structure Points to Momentum Shift
XRP now paints a strong technical picture . Both exponential and simple moving averages are rising. This upward slope reflects the growing confidence in the asset and signals control has shifted to buyers. The token continues to form higher lows, with support levels developing between $3.16 and $3.22. Even resistance at $3.30 gave way, suggesting price strength is gaining traction.
Volume spikes at 4 PM and 5 PM on July 28 added confirmation. Trading volumes reached 81.78 million and 69.06 million, both above average. This sharp activity implies accumulation, not panic selling. These are the signs of serious players stepping in, not weekend gamblers. If XRP can maintain these breakouts and hold above $3.31, it could head toward the $3.50–$3.66 range next.
Fibonacci Targets Create a Roadmap for Bulls
Using Fibonacci extension levels , traders have mapped out several targets. These levels offer potential zones where price may pause or consolidate. In the short term, the next stops sit around $4.12, $5.31, and $6.16. More aggressive projections call for $7.55 or even $9.45. The extreme extension lies at $13.59, a number that feels bold—but not impossible if Wave 3 unfolds fully. Market sentiment also backs the bullish case.
On Binance, over 72% of top accounts hold long positions. The global long/short ratio has climbed to 2.52, showing that optimism isn’t limited to whales. Smaller accounts echo this enthusiasm. Traders have become more bullish—but they’re still cautious. Position sizes remain moderate, a sign of calculated risk, not reckless betting. Ripple’s ongoing role in cross-border payments and the DeFi sector adds fundamental support.
Legal drama surrounding the SEC lawsuit still lingers, but XRP has learned to weather that storm. Right now, the chart looks more important than the courtroom. As price dances around $3.307, all eyes remain on that next push. If XRP clears $3.31 convincingly, it may light the fuse on a fresh rally. For now, bulls appear to be in control—quietly preparing for the next big wave.
