• XRP rebounds from $2.70, forming a symmetrical triangle signaling a potential breakout.
• Whale wallets accumulate 30 million tokens, boosting confidence and reducing selling pressure.
• A move above $3 could target $4.08, with $4.8 as extended resistance.

A comeback ripples through the market as Ripple’s XRP shows surprising strength. Traders watched the token climb 6.8% from Monday’s low of $2.70, settling near $2.78 on Wednesday. A sharp recovery like a phoenix rising sparks excitement. Many now believe a powerful reversal could soon lift the price past $4. Technical signals and growing whale activity fuel hopes of a rally that could rewrite recent bearish narratives.

Symmetrical Triangle Hints at a Powerful Breakout

Chart watchers spot a compelling pattern on the daily timeframe. XRP moves inside a symmetrical triangle, where converging trend lines tighten like a coiled spring. This formation often signals a breakout after volatility fades. Analysts eye a key resistance near $3 as the gatekeeper. A clean move above that barrier could unlock a climb toward $4.08, reflecting a striking 42% rise from current levels.

Before XRP bulls celebrate, they must clear two stiff hurdles. Resistance stands firm around $3.40 and again at the eight-year high of $3.66. These levels test the resolve of buyers and measure the market’s appetite for risk. On the downside, support hovers near $2.79 and the recent low of $2.70. A slip beneath $2.70 may invite further testing toward $2.58, but sentiment remains resilient.

Whales Accumulate as Sentiment Turns

While short-term swings spark nerves, onchain data reveals a deeper story. Large holders continue to accumulate, scooping up XRP like treasure hunters who sense buried gold. Santiment reports wallets holding between one million and ten million tokens increased their stash to 6.77 billion. They grabbed an additional 30 million coins early this week alone.

That haul represents 11% of the circulating supply, underscoring quiet conviction. Such accumulation builds a sturdy foundation. By buying dips, these whales absorb selling pressure and stabilize the price. Their confidence often inspires retail investors to follow, creating a feedback loop of demand. Net holder position change has stayed positive since late August, reversing the red outflows of midsummer.

The stage feels set for a dramatic shift. If momentum carries past $3 and through heavy resistance, the market could witness a charge toward $4 and beyond. Traders eye Fibonacci extension levels that stretch even higher, with $4.40 whispered as a distant beacon. XRP now stands at a crossroads. Technical patterns tighten, whales stockpile, and sentiment tilts toward optimism.

Every candle on the chart tells a story of pressure building beneath calm waters. A single spark—perhaps a breakout above $3—could ignite a move that captures imaginations and redefines the current trend. For those watching closely, the next chapter promises high drama and the possibility of a bold reversal.