XRP Bullish Breakout to $12.60 Next – Here’s How

• XRP targets $12.60 after confirmed multi-year bullish breakout pattern.
• Coinbase $53 million XRP transfer revealed as internal movement.
• Resistance at $5.96 and $8.98 before $12.60 price goal.

According to market analyst Ali, XRP has broken out from a multi-year triangle formation, setting a bullish price target of $12.60. The breakout, recorded in November 2024, has been followed by consistent upward momentum, with the cryptocurrency currently trading near $3.18.

A weekly chart shows that XRP has been trading in a tightening price range over several years. This merging was concluded when the price forcefully crossed the upper resistance trendline of the triangle.

Fibonacci extension analysis provides primary resistance levels of $5.96 and $8.98 prior to the expected target of $12.60. Market participants perceive the price structure and the positive momentum as indicators that additional gains can be realised in case these resistance levels are surmounted.

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Large-Scale Transfer and Market Stability

Meanwhile, Whale Alert recorded a blockchain transaction on Monday involving 16,698,207 XRP valued at approximately $53.16 million. Speculation in the early market included the possibility of selling activity, but blockchain data subsequently showed that the transfer was an internal Coinbase transaction.

The movement transferred XRP from cold wallet 197 to cold wallet 6, which is stored with Coinbase exchange reserves.

Coinbase manages 27 XRP wallets with high balances, each containing approximately 16.5 million XRP. According to analysts, these internal movements are regular liquidity management and security measures.

This transaction constituted a relatively small percentage of the total assets of Coinbase, and the market price of XRP did not change significantly after the transfer, being at approximately $3.18.

Technical Structure Supported by Market Conditions

The absence of significant price movement following the large transaction has reinforced the current bullish technical outlook. With no evidence of selling pressure from the transfer, the breakout pattern’s strength remains intact.

Traders are closely monitoring whether XRP can sustain its position above the breakout level. A move beyond $5.96 and $8.98 would increase the likelihood of the price reaching $12.60.

XRP’s breakout from prolonged consolidation, combined with market stability during high-value transfers, supports the bullish projection. The $12.60 level remains the next primary technical objective, with progress toward this target dependent on sustained buying momentum and the ability to overcome key resistance points.

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