Inverse Head-and-Shoulders Breakout Puts XRP on Track for $2.80 Test

Core Viewpoint - XRP has broken above the $2.50 mark, indicating a bullish trend as trading volume surged by 31% above weekly averages, coinciding with a broader risk-on sentiment in the crypto market [1]. Price Action Summary - XRP climbed from $2.50 to $2.57 during the session, with intraday volume peaking at 142 million, which is 31% above its seven-day mean [7]. - The token's price action has shown a decisive move through the $2.50 neckline, confirming an inverse head-and-shoulders pattern and opening potential continuation toward the $2.65–$2.80 range if buying persists [7]. Technical Analysis - The breakout was characterized by three sequential higher lows at $2.44, $2.48, and $2.51, indicating controlled accumulation in the $2.50 zone [7]. - Momentum indicators such as RSI and MACD have turned higher on the daily chart, while volume expansion supports the strength of the move [7]. - Immediate resistance is identified at $2.60, with secondary targets near $2.80; however, failure to maintain above $2.50 could lead to a return to the $2.40–$2.42 support level [7]. What Traders Should Know - Traders are observing whether $2.50 will hold as a new base, which is crucial for short-term trend confirmation [5]. - XRP reserves on exchanges have decreased by approximately 3.3% since early October, a historically bullish signal associated with whale accumulation phases [5]. - Open interest has stabilized, and funding rates remain neutral, indicating that the recent price movement is primarily spot-driven [6].