Bullish Trajectory for XRP: Will a Symmetrical Breakout Unlock a $2 Target?

$XRP price moved toward the $1.40 resistance on Tuesday as the broader crypto market recovered alongside easing oil prices.

According to data from crypto.news, $XRP ($XRP) price traded near $1.39 at press time, after briefly touching highs around $1.41 earlier in the session. The altcoin has since been consolidating within the $1.39 to $1.41 range following a rebound linked to reports of progress in U.S.-Iran peace negotiations, despite lingering geopolitical tensions involving the UAE and U.S. naval presence in the region.

Following the developments, oil prices pulled back after recently approaching the $90 per barrel mark, helping improve risk appetite across financial markets.

On the daily chart, $XRP price continues to form a symmetrical triangle pattern defined by converging trendlines. A breakout above the upper boundary typically signals a continuation move, while a breakdown below support could extend the consolidation phase.

$XRP price has been forming a symmetrical triangle pattern on the daily chart — May 5 | Source: crypto.news

In $XRP’s case, a confirmed breakout above the $1.45 level would validate the pattern and could open the door for a move toward the $1.90 region. This target is derived from the height of the triangle projected from the breakout point and aligns closely with a key Fibonacci retracement level, making it a notable resistance zone.

If bullish momentum sustains beyond that level, $XRP could attempt to reclaim the $2 psychological mark.

Momentum indicators are beginning to tilt in favor of buyers. The Supertrend has flipped green, indicating a shift in trend direction, while the MACD is nearing a bullish crossover, suggesting that upward momentum could strengthen if the signal is confirmed.