Key Takeaways
XRP has made a new all-time high with a decisive move past $3 that showed few signs of halting. Will the $4 level be breached next, or is the XRP market overextended and in need of a brief respite?
Ripple [XRP] was racing higher. The $3 psychological resistance level was being challenged by the bulls on Wednesday, the 16th of July. AMBCrypto reported that a move higher appeared likely, especially if the price managed to clear the $3.1 mark.
This has come to pass, and the longer-term symmetrical triangle pattern that promised a bullish breakout and new highs this cycle appeared to be materializing, too.
XRP makes a new all-time high with a near 30% rally in four days
Source: XRP/USDT on TradingView
According to Coingecko data, the all-time high for XRP was at $3.4, made in January 2018. It was easily smashed aside over the past two days as trading volume surged higher.
The RSI showed that momentum was intensely bullish, with a reading of 89.8 at the time of writing. This does not necessarily guarantee an immediate pullback.
Crypto assets have a tendency to run higher and continue running even if technical indicators show overbought levels. Until we see a bearish divergence, traders can continue to bid XRP.
This is especially true since the altcoin is in its price discovery phase.
The flip side of the coin is that high short-term volatility becomes more likely. A move into all-time high territory comes without clear price targets overhead and sudden pullbacks to hunt liquidity.
However, as the OBV suggested, the steady demand for XRP meant that the rally is set to continue in the coming weeks.
Source: XRP/USDT on TradingView
Using the retracement from $3.4 to $1.6 earlier this year, a set of Fibonacci retracement levels was plotted on the weekly chart. Right off the bat, there were two strongly bullish arguments for XRP.
The first was the break past the $2.6 level that came in the first week of July, flipping the weekly structure bullishly.
The second was the recent surge past the early 2025 highs. It was another strong sign of intent. The 23.6% and 61.8% extension levels northward at $3.82 and $4.5 were the next price targets for XRP.
Long-term investors can hold on for more gains, as this crypto cycle does not look like it has reached its peak yet.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
