XRP Tests Descending Triangle Resistance Near $2.99 With Analysts Targeting $3.60 Breakout

XRP trades at $2.99, pressing triangle resistance with a $3.60 breakout target in focus.

Futures open interest hits $7.94B, showing traders prepare for volatility after long consolidation.

Ripple Custody integrates with BBVA, boosting confidence in XRP’s broader ecosystem expansion.

XRP is trading near $2.99 and is positioned against the upper boundary of a descending triangle on the 12-hour chart. Horizontal support is visible at $2.75 while resistance has extended from late July into September. Analysts are watching closely to see if the token can confirm a breakout that may extend toward $3.60.

XRP Approaches Breakout Levels

According to an analysis prepared by Ali Martinez, if XRP breaks out of the current descending triangle, the next target stands at $3.60. Martinez also identified Fibonacci levels between $3.10 and $3.40 as potential checkpoints where price could pause before advancing further

These levels remain important because they often act as temporary resistance zones before continuation. Price movement during the past 24 hours shows XRP fluctuating between $2.95 and $3.02, closing back at $2.99. Buyers consistently defended the $2.90 area, which aligns with several key moving averages

Source: CoinMarketCap

Failure to hold above $3.00 could see XRP fall back toward $2.75, while a decline below $2.65 would cancel the bullish setup. Data from CoinMarketCap records a market capitalization of $178.66 billion and a daily trading volume of $4.29 billion, indicating that liquidity remains firm.

Derivatives and Broader Outlook

According to data from Coinglass, XRP Futures Open Interest has climbed to $7.94 billion compared with levels below $2 billion earlier this year. This increase shows growing involvement from derivatives traders who are preparing for potential volatility after more than 280 days of consolidation

Source: CasiTrades(X)

While the rise does not confirm direction, it reflects that markets are preparing for movement. An observation by Casi Trades noted that $3.00 is now acting as pivotal support following the breakout attempt. She explained that Fibonacci extensions from the larger consolidation point toward $4.50 as a breakout target, with $3.66 likely serving as a retest area once momentum builds

Ripple’s expansion also supports optimism, as Spanish bank BBVA confirmed the integration of Ripple Custody into its crypto services. This development added confidence to XRP’s ecosystem while analysts continue to monitor whether the token can confirm its breakout toward $3.60.

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