XRP is trading near a closely watched technical level as market participants monitor whether the token can confirm a breakout pattern. As of October 4, XRP traded near $1.50, up approximately 1% over 24 hours, with intraday trading ranged between $1.49 and $1.51 according to CoinGecko data.
Analyst Ali Martinez has identified a contracting triangle formation on the four-hour chart, with XRP's price compressing between descending resistance and rising support. A four-hour close above $1.53 would confirm the breakout, with $1.62 marked as the first upside target, representing roughly 8% upside from current levels.
XRP briefly reached approximately $1.55 on October 2 but retreated below $1.53, failing to establish sustained control above the breakout threshold. Analysts note that price must close above the level through the four-hour period to constitute confirmation, as intraday moves alone are insufficient.
Large holders of XRP showed no significant changes in their positions during the previous week, leaving whale activity relatively inactive during the price consolidation.
Broader Technical Levels
A wider Elliott Wave analysis from More Crypto Online places the current price action within a larger upward structure that began near an August low around $0.985. Under this framework, the recovery from that low is treated as potentially impulsive, though completion would require a full five-wave advance.
The analysis identifies key resistance levels at $1.67, $1.93, and $2.25. A Fibonacci structure within the Elliott Wave setup places an additional target zone between approximately $2.14 and $2.99 if the wave sequence completes as outlined.
Support remains marked at the August low of $0.985. Analysts emphasize that each higher level depends on price successfully completing the technical structure, with the immediate $1.53 confirmation remaining the first necessary step before longer-range targets become relevant.
