XRP’s Multi-Year Triangle Breakout in November 2024 Sets $12.60 Bullish Target

XRP’s November 2024 breakout ends six-year consolidation, setting a $12.60 bullish target.

Price holds above key $3.11 support, with resistance at $3.41, $3.66, and $4.60–$4.80 zone.

Legal wins and CFTC commodity status strengthen XRP’s long-term growth outlook.

XRP is trading at $3.22 after breaking out of a multi-year symmetrical triangle in November 2024. According to technical analysis, the breakout ended nearly six years of consolidation and opened the way for a bullish target of $12.60 based on Fibonacci projections.

Multi-Year Pattern Ends with Upside Break

According to analysis prepared by analyst Ali Martinez, XRP’s weekly chart showed a symmetrical triangle pattern forming since 2018. The price moved between $0.15 and $0.75 for years before breaking above resistance near $0.68 in late 2024.

This breakout was accompanied by sharp growth in trading volumes, suggesting strong market participation. Price quickly advanced past key Fibonacci retracement levels at $0.96 and $1.74 before reaching $3.18. Martinez’s chart shows extension targets at $5.96, $9.98, and $16.17, with the 1.272 level aligning with the $12.60 target.

The symmetrical triangle pattern formed as lower highs and higher lows compressed into a narrow range. This technical formation often precedes larger directional moves, and the November 2024 break confirmed the upside shift.

Short-Term Levels and Market Drivers

According to an observation by CasiTrades, XRP recently found support at the golden retracement pocket near $3.11, a level often linked to Wave 2 in Elliott Wave Theory. Price has since reclaimed resistance at $3.21, and volume is building. Key resistance levels are at $3.41, $3.66, and the $4.60–$4.80 zone

Source: CasiTrades(X)

A close above $3.27 could set the stage for a move toward $3.60 in the short term. Support remains between $2.40 and $2.50, the area where the breakout began. Recent legal outcomes have also removed major barriers for XRP. In August 2025, Ripple and the U.S. Securities and Exchange Commission agreed to dismiss all legal cases

Also, the Commodity Futures Trading Commission of the U.S. designated XRP as a commodity putting it on a par with Bitcoin and Ethereum regarding regulation.. All these, together with the breakout, have set the XRP on course towards a long-term hold of the coin as it aims at the projected valuation of $12.60.

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