XRP Consolidates in Symmetrical Triangle Pattern as Available Exchange Supply Rises

Technical analysis shared by Ali Martinez points to a symmetrical triangle pattern forming on the hourly chart of XRP. According to the analyst, a confirmed hourly close above the $1.54 threshold could trigger a price advance of around 10 percent. As of October 3, XRP traded near $1.48, down roughly 4 percent over the preceding 24 hours and over the week, recording the softest performance among the four major cryptocurrencies.

The symmetrical triangle pattern reflects balance between buyers and sellers, marking lower highs alongside higher lows. The technical projection associated with a breakout above $1.54 points toward approximately $1.69. However, that area aligns with previous selling resistance, specifically levels near $1.70 recorded in August and $1.66 reached in September, where profit-taking previously halted upward movement.

On-chain and exchange metrics show additional supply active on trading venues. CryptoQuant data indicates that the XRP Scarcity Index on Binance dropped to -0.94 on September 30, reaching its lowest point since January 2025. Although Binance's overall XRP reserve balance has declined roughly 20 percent since November 2024, the index decrease indicates that a higher portion of remaining tokens has moved into active trading balances, requiring greater buying absorption to sustain upward price action.