XRP Price Set to Test Major Resistance in October
XRP is nearing a significant technical juncture, with chart patterns indicating a potential breakout from the prevailing triangle formation. Analyst Ali Martinez highlights this setup, pointing out that the descending resistance line that has capped XRP’s price since August is now within striking distance.
Currently trading around $2.98—up from the September low near $2.71—XRP has spent the last two months oscillating between a descending upper trendline and a horizontal support zone between $2.70 and $2.80. This price action has created the classic conditions needed for a triangle breakout.
Potential Upside Targets and Fibonacci Alignment
Should XRP successfully breach the descending resistance, projections indicate a move toward approximately $3.60. This target corresponds with the 0.236 Fibonacci extension level, marking it as the next critical test on the charts.
Breaking above $3.60 could then pave the way for further gains, potentially reaching the consolidation range of $3.85 to $4.00—levels last seen during the early summer trading period.
Downside Risks if Resistance Holds
Conversely, failure to surpass the resistance could trigger a price rejection, pushing XRP back toward its lower support near $2.70. A breakdown below this support level would undermine the bullish triangle pattern, exposing downside targets closer to $2.50 and even $2.30.
October is historically a strong month for XRP, and with volatility contracting, the direction of the impending breakout will likely shape short-term market sentiment. Key resistance between $3.10 and $3.20 remains a pivotal hurdle; a move above this zone would serve as an early indicator that the $3.60 target is attainable.
