- XRP is nearing a potential breakout from a symmetrical triangle pattern, supported by strong technical indicators and Fibonacci data.
- Despite 90% bearish sentiment, XRP’s entry into Wave 3 and the upcoming U.S. crypto hearing may trigger a $6 rally.
Ripple’s XRP is on the brink of a price reversal, from the current sentiment of 90% bearish in the cryptocurrency market. A symmetrical triangle visible on the charts and backed by some very strong technical clues, XRP could reach the level of $6 in the short run. A clear confirmation from a chart showed that the trend lines are converging, which can be a reliable signal that it will lead to a price breakup soon.
XRP has been gradually reaching the apex of this triangular pattern, reducing its price range over weeks. It is a formation, which frequently results in an abrupt change in price higher or lower. In this instance, the majority want to see the rise. Crypto analyst DefendDark remarked that there could be a breakout for XRP toward a $6 price target.
Fibonacci retracement data backs the bullish view. It shows that there is a support level at $2.04 and a resistance level at $2.2. The price move through the resistance at $2.2 can mean a move toward $5-$8, which is the target area, as per DarkDefend’s analysis.
XRP Enters Wave 3 for $6 Target
Adding more structure to the prediction is the Elliott Wave theory, a method that follows the psychology of market cycles through five advancing waves and three corrections. XRP is believed to be moving into its third wave now—often the most powerful one. The last dip bottomed out around $2.04, which has become a key zone to watch for further moves.
XRP’s current trajectory suggests it could be headed toward the 261.80% Fibonacci extension at $6. Along the way, intermediate resistance zones have been marked around $3.13 and $4.27, offering clear markers for progress. One reason the setup is gaining attention is the potential timing. This bullish movement could unfold as early as April or May.
In support of the rally idea, XRP recently hit its lowest Fibonacci level at $1.88, a point that typically invites a bounce. The next price resistance that could confirm the move is $2.222. With the price currently inching above the previous pullback level of $2.04, it appears that the groundwork for a larger breakout has already begun.
Spotlight Turns to XRP Ahead of Crypto Hearing
There’s also some fuel coming from Washington. On April 9, the U.S. House will hold a hearing titled “The Future of American Innovation and Digital Assets: Adjusting U.S. Securities Law for the Digital Age.” The session will discuss creating a proper legal framework for crypto and could shift public and investor sentiment further.
Tokens such as XRP and ADA are getting special attention due to their proximity to regulatory debates. Earlier this year, Donald Trump was said to have mentioned XRP as a part of a possible U.S. crypto stockpile. Any moves toward favorable policy could be an added tailwind for XRP’s current push.
What makes the scenario even more intriguing is how unloved XRP is right now. With nine out of ten market participants reportedly bearish, any shift in sentiment could light a fire under the token’s price. That same bearishness could end up being the very reason for a surprise rally—what some call a classic contrarian move.
