Ripple’s XRP could be on the edge of a breakout that no one wants to miss. After holding steady near the $2.20 level, XRP has started to climb again, and some traders believe this might just be the beginning.
Well-known crypto trader Captain Faibik now says XRP could double from here, with a bold price target of $4.60 if this rally picks up speed.
XRP Bullish Triangle Targets $4.60
In his recent tweet post, Captain Faibik shared a clear chart showing XRP stuck inside a big triangle pattern. or months, the price has been bouncing between the top and bottom lines of this triangle, building up pressure for a big move.
Now, according to Faibik, XRP is very close to breaking out, and if buyers push the price above the top line, it could rally fast. XRP recently climbed back above $2.22, following in the footsteps of Bitcoin and Ethereum. It even broke past the $2.23 level, showing strength.
Faibik says the bulls look ready to win this time. If XRP can close strongly above that top line with good trading volume, he sees the next stop around $4.60, a big jump from where XRP is today.
XRP ETF Approval Odds Surge XRP Hopes
XRP has always been one of the most talked-about yet tough coins in crypto. Recently, news that Ripple’s lawsuit with the SEC may soon end has boosted hopes for a Spot XRP ETF.
According to prediction platform Polymarket, the chances of approval by the U.S. SEC now stand at an impressive 95%.
Captain Faibik believes this kind of bullish news could give XRP the push it needs to break through its strong resistance level and reach new highs.
Another Decline, If Things Go Wrong
Meanwhile, nothing is guaranteed in crypto. If XRP fails to break out, this triangle could turn into a trap for bulls, and the price might move sideways or even drop lower.
The first support level on the downside is around $2, with stronger support sitting near $1.74.
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