XRP (CRYPTO: XRP) has failed to break above a multi-month triangle pattern that formed since February and is now testing support at the breakout level.

Shorts Getting Squeezed As Retest Holds

Volume surged 170.81% to $5.38 billion during the breakout, far above typical retest levels and pointing to institutional buying.

Open Interest climbed 7.41% to $2.90 billion, while Options Volume jumped 322.80% as traders positioned for the next move higher.

Liquidation data shows $6.03 million in shorts wiped out versus $5.21 million in longs over the past 24 hours, with bearish bets getting caught as the retest holds.

Funding Rates Hit Three-Month Bearish Extreme

XRP funding rates on Binance are experiencing their longest and most negative stretch in recent history, according to Darkfost.

Funding rates have maintained a bearish bias for nearly three months, even as XRP has posted a 27% gain over the same period.

When such a strong consensus forms, especially after a correction exceeding 60%, it often signals a potential reversal developing. 

This happened in April 2025, when XRP reached $1.25 before a bullish recovery eventually triggered a rally that led to a 126% advance.

The Two-Leg Move Targets $1.85

Parabolic SAR at $1.3723 remains below price, keeping the daily trend firmly bullish. MACD histogram continues printing green consecutive bars with the crossover intact.

The projected path on the chart shows a two-leg move targeting $1.75–$1.85 in play, with the retest completing the launchpad for that second leg.

Retest support at $1.42–$1.45 must hold on daily close. First target post-retest sits at $1.60–$1.65, with the full measured move target at $1.80–$1.85.

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