On the daily chart, it is clear that XRP/USD is about to shoot through for a bullish breakout with a target of $3.40, a price level attained earlier in the year. The chart outlines a classic Elliott Wave structure, currently in wave (iv) of a 5-wave impulsive move.
If the bullish momentum sustains, the anticipated wave (v) could push XRP up to the $3.40 level, marking a substantial gain from the current price of $2.34. One of the defining features of the forecast is the continued bullish trendline, which has survived many corrections.
XRP Price Chart (Source: TradingView)
The chart identifies a notable resistance zone between $2.54 and $2.65, aligning with the 0.5 Fibonacci retracement level (2.50592). A definite breakout at this level would keep the buying action flowing. Additional resistance is projected near $3.02 (0.786 Fibonacci level), which, if broken, would further validate the $3.40 target. The XRP price forecast suggests that surpassing these resistance levels could spark a significant rally.
Now, support is at $2.29, matching the 0.382 Fibonacci retracement. Analysts suggest that this level must be defended for the bullish structure to be maintained. The bulls’ target is also marked, indicating that a further rise is likely if major price resistances are broken.
Funding Rate Signals XRP Bull Run
Adding to the recent bullishness, the fund rates from May 27, 2025, plainly show XRP’s current trend is on track. The Open Interest (OI)-Weighted Funding Rate chart shows green territory dominating through May.
XRP OI-Weighted Funding Rate (source: CoinGlass)
At the time of writing, funding is standing at +0.0081%, while XRP is trading at $2.30. The steady premium indicates that those with long positions are still taking on the expense of remaining in position, which in turn signals they are highly confident in price strength.
The price behavior shows more than a little short-term optimism. In line with the wave (v) projections, the market structure now points to a test of $3.40. Since XRP’s funding and technical indicators are pointing in the same direction, the coin could be ready for a key turning point.
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