XRP Price Eyes Breakout as Ascending Triangle Signals Bullish Momentum

XRP is showing renewed strength after spending much of the year under selling pressure, with the cryptocurrency now trading around $1.13 and forming a bullish ascending triangle on the daily chart. The technical pattern is widely viewed as a potential continuation or reversal signal, suggesting buyers are gradually gaining control even though a confirmed breakout has yet to occur.

One of the clearest signs of improving sentiment is the series of higher lows recorded throughout July. Each pullback has attracted buyers at progressively higher levels, creating an upward-sloping support line that reflects growing demand. At the same time, XRP remains compressed beneath a cluster of key moving averages, setting up the possibility of a decisive move once resistance is broken.

The first major obstacle sits near the 50-day exponential moving average (EMA) at $1.17. A successful close above this level could pave the way for a rally toward the 100-day EMA near $1.24, with the psychologically important $1.30 level becoming the next target if bullish momentum continues.

Momentum indicators are also becoming more favorable. The Relative Strength Index (RSI) has climbed above the neutral 50 mark after months of weakness, indicating improving buying interest. However, trading volume remains relatively subdued, suggesting many investors are waiting for stronger confirmation before increasing their positions.

Despite the recent improvement, XRP still trades below its longer-term moving averages, including the 200-day EMA around $1.44, meaning the broader trend has not fully shifted to bullish. Even so, the current chart structure is among the strongest the token has displayed in recent months.

If buyers can push XRP above its immediate resistance levels, the cryptocurrency could enter a more sustained recovery phase. Conversely, a break below the rising trendline would invalidate the bullish setup and increase the risk of a decline toward the $1.05 to $1.00 support zone. Traders will likely watch the coming sessions closely for confirmation of XRP's next major move.