XRP Holds the Golden Retracement Level at 2.90 USD: Wave 3 Breaks Up to 5.4 USD in Sight

XRP has maintained its growth momentum in recent days, even as Bitcoin fell to $110,500 and struggled to regain the $112,700 level in the past 24 hours. Unlike Bitcoin, XRP has avoided a new low and instead has bounced back around the $2.90 to $2.91 level. According to cryptocurrency analyst Captain Redbeard, the price of XRP is currently breaking out of a large multi-year triangle pattern and may be preparing for another parabolic run. XRP Escapes from a Multi-Year Triangle According to Captain Redbeard's analysis, first published on social media platform X, XRP has successfully broken out of the triangle pattern. This breakout is particularly noteworthy, considering it has surpassed the multi-year consolidation structure that has developed since the last bullish cycle.

As Redbeard noted, "history does not repeat itself, but it certainly rhymes." Speaking of history, this exact setup occurred in 2017 before XRP skyrocketed to its previous all-time high of $3.4 in 2018. The breakout from such a long-term fall is particularly significant as it indicates that many years of sideways movement have now built up enough energy for a strong directional move.

The 2-week candlestick chart you shared shows that XRP broke out of the triangle pattern at the beginning of 2025. However, the price movement of XRP over the past few months has seen this cryptocurrency consolidate within a parallel channel just above the Fib 1.0 extension level, similar to what happened in mid-2017 after a similar breakout. However, the consolidation pattern is currently coming to an end, and if history repeats itself, XRP may be on the verge of a similar breakout. In terms of price targets, the analyst's chart predicts that the price will rise to a high of 27 dollars. Support Golden Retrace at level 2.90 USD Captain Redbeard's analysis has captured the macro breakout, and the price target may take years to form. However, a shorter analysis on the 4-hour candle timeframe shows that XRP must hold above the $2.90 level. This context is based on the analysis of cryptocurrency analyst CasiTrades. Unlike Bitcoin, which recently fell to $110,000 and is struggling to reclaim the Fibonacci retracement level of $112,700 at 0.236, XRP has shown better bounce back ability. This coin has held steady at around 2.90 to 2.91 dollars, corresponding to the golden retracement level at 0.618 Fibonacci. According to Elliott wave theory, this is the area where Wave 2 corrections typically find support before Wave 3 begins to move up much stronger. CasiTrades identifies $3.12 as the confirmation threshold to watch immediately. A complete break above this level will confirm the bullish structure and put XRP on the path towards higher Fibonacci extension levels. Forecasts emphasize $4.48 as the next key resistance area and $5.40 as the ultimate price target of Wave 3.