XRP Breakout Anticipated Before the Weekend, Says Expert

XRP may be on the verge of a significant price movement, as a crucial chart pattern develops and positive signals emerge from the equity market. XRPL developer Bird has made observations predicting a breakout could occur shortly, potentially leading XRP toward new heights.

Key Takeaways:

XRP's Technical Setup: Cryptocurrency XRP is showing signs of a prospective breakout, with a chart pattern indicating price movement is imminent.
Influence of Russell 2000: The performance of the Russell 2000 index has been linked to XRP's behavior, suggesting a potential correlation with market trends.
Market Conditions: Current macroeconomic factors suggest that XRP and other altcoins may soon see increased interest and investment.
Potential Target Price: A successful breakout could see XRP reach targets as high as $2.69 in the near future.

XRP news

Analyzing XRP's Breakout Potential

XRP is appearing to reach an important juncture as a closely monitored chart pattern is honing in on its apex. XRPL developer Bird (@Bird_XRPL) highlights the potential for a significant price shift, as broader “risk-on” signals in the equity market are turning positive.

In a series of updates on X, Bird, who is also behind the XRPL meme coin DROP, indicated that XRP's hourly chart is gearing up for a critical move “before the end of the week.” He suggested that a technical breakout could rapidly drive the price up toward a target of $2.69, which would signify the entry into a "bull run" phase.

XRP price analysis, 1-hour chart | Source: X @Bird_XRPL

Russell 2000 Index: A Key Indicator for XRP

Expanding on his predictions, Bird connected his analysis to the performance of US small-cap stocks, specifically the Russell 2000 index. He noted that the index is poised to achieve its highest weekly close ever, which he believes is significant for XRP’s price trajectory.

Bird pointed out, “Historically, XRP and altcoins have closely followed the Russell 2000,” calling it the true “risk-on” index for mid-cap stocks, in contrast to mega-cap indices like the S&P or MAG7, where much investment is currently concentrated.

His perspective holds that XRP behaves more like a mid-cap risk asset rather than a “store of value” equivalent, which makes it essential to observe how the Russell index performs during speculative capital shifts. Bird described the current market climate as one where “capital is rotating” and “risk is back on,” indicating a period where investment patterns could change swiftly if narratives align.

In further analysis, Bird noted that XRP has been consolidating for over a year, while assets like the Russell 2000 have entered price discovery. He underscored this as a crucial moment: “We’ve gone sideways for over a year, yet the Russell 2000 is now in full price discovery.”

Bird also referenced a previous occurrence when the Russell index turned positive in November '24, which led to XRP’s parabolic rise about 10 days later. He emphasized that, unlike that instance, the Russell has recently reclaimed its highs and maintained strength across various timeframes. He believes that the primary limiting factor now is not a drop in metals or other assets, but rather a pause that adjusts risk appetites.

Focusing on factors specific to XRP and Ripple, Bird remarked, "Acquisitions are complete, partnerships are being established, NDAs are being lifted, and legal clarifications are emerging." This backdrop, he argues, brings XRP to a critical point where “a single narrative, catalyst, or push can ignite XRP quickly.”

The immediate test for XRP will be whether the tightening technical structure resolves to the upside as Bird anticipates. If this occurs and continues with supportive market risk appetite for altcoins, traders may watch for a momentum break that could elevate XRP towards the $2.69 target.

At the time of this report, XRP was trading at $2.06.

XRP price chart
XRP faces the 0.382 Fib, 1-week chart | Source: XRPUSDT on TradingView.com