- XRP price trades above crucial support, with the potential to break out over $3.00 and rally towards $4.00.
- The symmetrical triangle of XRPs indicates a possible bullish breakout, with targets at 3.50 and 4.00 should the resistance stage be breached.
- A break above XRP signifies a confirmed increase in volatility and an enormous rally to new highs.
XRP price has been consolidating above major support levels, which leads to a possible break in the higher trend that will drive it to a level of about 4.00. The forming of a symmetrical triangle has traders on alert as to which side will break the level and determine the next big rally.
XRP Price Poised for Potential Surge as Key Support Holds
XRP has been struggling to maintain its levels above the ascending support trendline around the ranges of $2.75-2.85, and has received several buy bounces above its trendline. The consolidating symmetrical triangle formation is also a gain indicator that there will be a breakout soon As market analyst crypto_goos opined, a break above the important resistance zone of $3.00-3.10 might create a force to move towards the price of $3.50 and even $4.00.
Source: crypto_goos/X
But a break of resistance and a move downward beneath the trendline will test the support area around $2.70-2.75, with possible further weakness down to the $2.50 area. The immediate days will be indicative in the direction that the XRP price will take, likely breaking higher or continuing to consolidate.
In order to sustain its bullish trend, volume is critical in the case of XRP price. Generally, a decisive move above the resistance at 3.00- 3.10 with considerable volume may open up the way to $4.00 and maybe even to 4.20 (1.618 Fib extension). Brett_Crypto_X believes that it is crucial to observe volume in order to validate the sustainability of the breakout.
Source: Brett_Crypto_X/X
XRP price falling below the range of $2.75 – $2.85 could be a sign of bearish movement with support at either $2.50 or $2.00. Breaking above the upper side of the ascending trendline at approximately $2.70 could validate the aggressive nature and target a level of $4.00 but a decline below that could threaten this position and look toward support areas.
