XRP Price Forms Bullish Pennant After 51.5% Rally, Eyes $2 Target

The XRP price has formed a bullish pennant after a 51.5% rally in just seven days, with its 4-hour chart showing a potential breakout if buyers clear resistance near $1.56.

According to data from crypto.news, the XRP price traded around $1.48 at the time of writing after opening the seven-day period at $1.0014 on Aug. 19. The token briefly reached approximately $1.69 before sellers took profits, leaving it about 12% below the weekly high but still up roughly 48% from its starting level.

The rally followed renewed optimism around US crypto regulation after President Donald Trump hosted industry representatives, including Ripple CEO Brad Garlinghouse, at the White House. Improved liquidity conditions also supported the broader crypto market.