XRP (XRP) broke and closed above the symmetrical triangle pattern on January 11, indicating that the uncertainty has been resolved in favor of the bulls.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day moving average ($2.34) has started to rise, and the RSI is in the positive zone, indicating an advantage for the bulls. If the price holds above the triangle, the XRP/USDT pair could rally to $2.73 and then to $2.91. The sellers are expected to defend the $2.91 level strongly, but if the bulls prevail, the pair could rally towards the $4.84 target.

The bears will have to pull the price back below the 20-day moving average to weaken the bullish momentum. A break below the support line will signal a deeper correction for the pair.

XRP/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair is likely to retest the breakout level of the triangle. If the price bounces off the breakout level, it will indicate that bulls are trying to turn the level into support. This increases the likelihood of a break above $2.60. The pair could then rally to $2.73.

Conversely, a break and close below the triangle could lock in the aggressive bulls. This could take the pair to $2.20 and then to the support line. The buyers are expected to fiercely defend the area between $2.20 and the support line.

$XRP