XRP trapped in triangle — breakout could shock the charts

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With the cryptocurrency market making slightly more confident strides in the green zone, XRP’s price action is tightening within a critical ascending triangle pattern, and traders are closely watching for a breakout that could send shockwaves through the charts.

Specifically, popular pseudonymous crypto expert Egrag Crypto highlighted that as long as XRP holds above $2.973, the setup remains intact and a push toward higher levels is still on the table, according to the analysis he shared in an X post on September 11.

Will XRP bust out of the triangle?

As it happens, the ascending triangle, often representing a bullish continuation pattern, is nearing its apex. Egrag has pointed to a measured breakout target of $3.121, though momentum could drive prices beyond that level if bulls seize control. A short-term hurdle lies at $3.033, but once XRP clears it, an extended rally could ensue.

Supporting this bullish outlook, XRP is currently trading above both the 21-day exponential moving average (EMA) at $2.957 and the 100-day EMA at $2.912. These levels act as near-term support cushions, giving the price structure a solid base to move higher.

As the analyst noted, emphasizing both the breakout potential and the importance of key support levels:

“Zooming In: As long as XRP stays above $2.973, we’re still on track to reach the apex of the ascending triangle and make our move!”

Still, risks remain if XRP fails to sustain its position within the triangle. Should the $2.973 and EMA supports give way, the next major test lies at $2,85 – a level that Egrag describes as critical to hold in order to maintain bullish momentum. A drop below that zone could invalidate the triangle setup and expose the market to deeper downside.

For the time being, the third-largest asset in the crypto industry by market capitalization is trading at the price of $3.02, up 1.62% in the last 24 hours and gaining 6.20% across the previous seven days, as it moves to reduce the 3.65% decline from its monthly chart.

XRP has been consolidating for weeks within a broader descending channel but is now coiling into a structure that could set the stage for its next big move. With volatility compressing, traders are bracing for a decisive break that could determine whether the token surges further beyond $3 or risks slipping back under pressure.