XRP is currently experiencing renewed attention following a bullish weekly candle formation. As of this writing, the token is trading at $2.62, with a 24-hour trading volume of $4 billion. While it has seen a slight decrease in the past day, XRP has gained over 5% in the last week. The market's focus is firmly on the $2.70 level, which has historically served as a significant area of resistance.
Bullish Reversal Pattern Emerges on Weekly Chart
The weekly chart for XRP has displayed a bullish engulfing candle pattern. This specific pattern typically appears after a period of downtrend and is indicative of increasing buyer interest. The candle's body completely encompasses the previous red candle, suggesting a potential shift in market momentum.
The primary objective for traders and analysts is the $2.70 price point. A decisive break and sustained hold above this level could confirm a strengthening bullish sentiment. As noted by ChartNerd:
$XRP has printed a weekly bullish close with an engulfing candle 🕯
Breaking above $2.70 and staying above such level is the main objective. A higher low could form if met as resistance 👍
Reversal signals are printing. Great signs for continuation macro. Be prepared 🎒 https://t.co/EdcY9UUsaw https://t.co/FJGlGWLaRn
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) October 27, 2025
Market observers have drawn parallels between XRP's current price action and its performance in 2017. During that year, XRP surged above a long-term resistance block after an extended period of consolidation. A similar chart structure is currently developing, according to multi-year analysis.
The price has now broken through a comparable resistance block and is showing signs of holding support from previous accumulation zones. Fibonacci extension levels indicate potential long-range targets at $8, $13–$15, and $27, based on XRP's historical expansion patterns.
Sustained Long-Term Accumulation Indicators
XRP has been trading within a rising channel since January. ChartNerd has observed that the token recently tested the lower boundary of this channel and experienced a bounce. This bounce occurred near critical trendline support, which has remained intact for over ten months, further reinforcing the notion of ongoing accumulation.
Cryptoinsightuk commented on the current market dynamics:
“XRP has no downside liquidity… at some point price will be pushed higher into the deep areas of liquidity.”
This statement suggests that thin order books at lower price levels could serve as a catalyst for price increases should demand return to the market.
Institutional Interest and Shifting Market Sentiment
The broader market sentiment surrounding XRP remains mixed. Some market participants have expressed skepticism about the current upward trend, citing recent whale activity. However, data from Santiment indicates that buying interest has increased following a period of predominantly negative social media sentiment.
In parallel, Ripple has officially confirmed the completion of its $1.25 billion acquisition of Hidden Road, which has now been rebranded as Ripple Prime. This deal, initially announced in April, was finalized last week and marks Ripple's entry into the institutional brokerage sector.
For further insights into Ripple's recent strategic initiatives, additional information is available.