XRP Breaks Weekly Resistance as Analysts Track Fibonacci Targets at $4.39 and $5.85

XRP breaks weekly resistance, with Fibonacci targets set at $4.39 and $5.85 in the current cycle.

Strong supports at $3.01 and $2.85 provide stability as bullish Elliott Wave structure continues.

Futures open interest rises 3% while SEC ETF delays keep October deadlines in trader focus.

XRP has entered a strong technical phase as initial weekly resistance is being broken right now. According to analysts, Fibonacci extensions project upside targets at $4.39 and $5.85. At the same time, supports remain clear at $3.01 and $2.85. At the time of writing, XRP was trading at $3.16.

Technical Structure and Fibonacci Targets

According to an observation by Dark Defender, XRP completed its corrective A-B-C-D-E wave pattern earlier this year. The market then initiated an impulsive wave (1) upward, followed by a corrective wave (2), which stabilized above the green Kumo cloud. This structure keeps XRP in alignment with a bullish Elliott Wave cycle.

Fibonacci extensions outline precise targets, beginning with $3.35, followed by $4.39 and $5.85. These levels provide defined checkpoints for traders tracking the power of the waves. Price action remains above the cloud, confirming that XRP is supported by its broader trend. Analysts also noted that $3.01 and $2.85 continue to serve as strong support levels

Source: CW8900(X)

According to CW8900, XRP has risen quickly after breaking through the convergence level, with short-term upside projections reaching $4.45. Depending on market momentum, this move could extend toward $4.75, keeping traders focused on Fibonacci checkpoints as guiding markers.

Market Conditions and ETF Developments

The broader market context is shaping XRP’s momentum. CoinGlass data showed a 3% increase in futures open interest, signaling higher activity among derivatives traders. At the same time, daily trading ranges have remained stable between $3.02 and $3.18.

ETF developments also continue to attract attention. According to analysis prepared by multiple sources, the SEC has delayed decisions on several XRP ETF applications, including Grayscale and 21Shares

October deadlines now converge, creating anticipation for group approvals. Analysts noted that similar launches in Ethereum ETFs initially saw muted inflows before steady growth built over time. With XRP maintaining structure above $3.00 and breaking resistance, technical targets at $4.39 and $5.85 remain active in the current cycle.

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