XRP Bounces 4.6% as Traders Watch $1.13 for Triangle Breakout Signal

Quick overview

XRP climbed 4.6% to $1.13 Monday, hitting the exact level traders have been staring at for weeks. The token’s been compressing in a tight symmetrical triangle on the hourly chart. Break above $1.13 and you’re looking at a 20% rally toward $1.35 according to analysts watching.

Here’s the problem. Daily chart still shows XRP locked inside a descending channel that’s capped every rally for months. The 100-day and 200-day moving averages are both overhead sloping downward. Until XRP clears $1.24-$1.28, the bigger picture stays bearish no matter how good the hourly setup looks.

Volume picked up during the push higher, hitting $1.27 billion in 24-hour turnover. That’s decent. Not huge but enough to show some real flow, not just thin air movement. The range stayed tight through most of the session before buyers pushed late.

Ali Martinez pointed out the monthly chart threw a TD Sequential buy signal. That’s a timing tool that sometimes works, sometimes doesn’t. Mixed with the hourly triangle setup, it creates a case for a bounce. Doesn’t guarantee it though.

Support at $1.08-$1.10 held solid through the move, which means shorts didn’t panic sell. They’re just sitting, waiting to see if this $1.13 level breaks or gets rejected again. If $1.13 gets taken out, next stop’s $1.14 where the high of yesterday’s range sits.

The real resistance is $1.24-$1.28. That zone aligns with the channel’s upper boundary and major moving averages. You need a clean break there to flip the daily chart positive. Until then, any rally is just bouncing inside the channel, not breaking the trend.

Support below gets interesting. Lose $1.02-$1.06 and $0.88-$0.92 opens up fast. Those are the levels that matter if this bounce fails. Traders buying $1.13 are betting on a push to $1.35 but really need that zone above $1.24 to confirm momentum’s actually shifted. One 4% bounce doesn’t change the longer-term downtrend unless it leads to something bigger.

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Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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