XRP Eyes 5% Breakout As Analysts Watch Key $1.40 Level

Crypto traders are keeping a close eye on XRP as analysts spot a setup that could spark a quick five percent price jump. Market watcher Ali Martinez points out that the token is forming a descending triangle pattern on the one hour chart. If buyers can push the price to consistently close above the one dollar and forty cent mark, the token could target one dollar and forty six cents next.

This short term technical pattern comes alongside strong fundamental backing from institutional investors. U.S. spot XRP exchange traded funds just marked eight straight weeks of cash inflows, pulling in over two hundred million dollars total. These funds now hold nearly one and a half billion dollars in net assets, helping drive a thirty four percent price surge over the past month.

With the token trading right around one dollar and forty cents and a market capitalization sitting near eighty eight billion dollars, market participants are watching to see if sellers will yield. If institutional accumulation continues at this pace, the recent bullish momentum may have enough fuel to reach the next major target in the coming days.