XRP: Amid potential breakout signs, bulls look to hit $3.40

• XRP eyes breakout from symmetrical triangle; support at $2.00-$2.11 remains critical.
• Whale wallets continue accumulating, hinting at a bullish long-term outlook.

XRP is at a pivotal point, consolidating within a symmetrical triangle on the daily chart.

With price action compressing and whale accumulation strengthening, all eyes are on whether XRP can break out above its descending resistance.

A successful breakout could ignite a rally toward significant price targets, placing $3.40 back on the radar.

XRP consolidates

On the daily timeframe, XRP traded at $2.18, resting near the lower bound of a well-defined symmetrical triangle pattern.

This technical formation often signals a continuation or a reversal, depending on the breakout direction. 

The pattern has seen multiple price reactions at both support and resistance lines, tightening into an apex, a common precursor to a significant move.

The lower support zone around $2.00-$2.11 has historically held firm, reinforced by high volume nodes visible on the Volume Profile Visible Range [VRVP].

As XRP approaches this key support with declining volatility, bulls may be preparing for a rebound.

Price targets on breakout confirmation

Should XRP break decisively above the descending resistance trendline, the next immediate target lies at $2.60, followed by $2.84, $3.00, $3.21, and eventually $3.40. 

These levels align with Fibonacci retracement zones and past price action clusters. The Relative Strength Index [RSI] also suggests the asset is not in overbought territory, leaving room for upward movement.

If XRP fails to hold the support at $2.00, downside risks could emerge, with the next support zones resting near $1.77 and $1.60.

On-chain signals point to Whale confidence

On-chain data from Santiment reveals that large holders, particularly wallets holding 1,000-10,000,000 XRP, have steadily accumulated through Q1 2025.

The red and cyan lines on the accumulation chart show a persistent upward trajectory, particularly among the 10,000-100,000 XRP and 1,000,000-10,000,000 XRP cohorts.

Meanwhile, addresses with 1 billion+ XRP have also shown renewed interest, with a sharp uptick around the 29th of March.

This strategic accumulation during pullbacks reflects growing confidence among high-conviction holders.

Historically, such behavior often precedes major price movements, especially when aligned with technical consolidation zones.

Final thoughts

XRP’s price structure and whale behavior suggest the asset is primed for a breakout; the only question is when. A clean move above the symmetrical triangle resistance could open the floodgates toward $3+ territory. 

Until then, XRP traders and investors should closely watch the $2.00 support zone and volume expansion to confirm directional bias.