XRP’s price movement has been highlighted by a rejection at $2.35, followed by a bounce at $2.15. This initial rejection follows a brief rally in the last week of April that saw XRP break above a downward-sloping resistance trendline, which has defined its structure since early January 2025. However, this rejection has since been followed by a retest of this trendline, indicating a potential setup for a breakout to levels above $4 rather than an outright rejection.
Trendline Breakout In Focus With Swing Failure Pattern
According to a technical analysis on the TradingView platform, XRP/USDT is currently pressing against the zone of a significant descending trendline on the daily candlestick timeframe chart. This trendline, which has guided the broader bearish structure since January 2025, was previously responsible for notable price rejections in February and March. However, the recent interaction with this trendline appears different, suggesting a possible shift from a pattern of lower highs to a breakout and retest formation.
The notable development here is the sequence leading to the breakout attempt. XRP first surged upward in late April and moved above the trendline, but instead of collapsing back into the previous range, the price briefly retraced and formed a higher low. This formation indicates a significant structural change in the bullish version of a swing failure pattern (SFP).
In this case, the failed low formed after the breakout hints at a reversal of the prior downtrend, validated when XRP closed on April 30. As shown in the chart below, this swing failure pattern has now transitioned to a bullish outlook with rising volume, suggesting an early sign of a rebound and rally.
Moreover, the trendline has been touched multiple times over the past five months, making a confirmed close above it highly significant. The white arrow drawn on the chart indicates the anticipated direction of XRP’s price if the bounce is sustained.
$3.00 Resistance Is Important For Next Price Explosion
A bullish daily close above this trendline would break the bearish structure that has defined XRP’s price since the start of the year. If successful, this would pave the way for XRP’s price to eventually surpass $4, provided all conditions align favorably.
However, analysts suggest that the most immediate level to monitor is the $3.00 resistance. A daily close above this round psychological level, paired with a volume spike, could open the floodgates for XRP to surge toward the next key zones.
These zones include $3.31, which coincides with the highs recorded on January 16, representing a clear liquidity level. Following that, XRP would target its current all-time high, with $4.6209 marking the next longer-term breakout target.
As of the time of writing, XRP is trading at $2.20.
