#Xrp🔥🔥
Is the price of XRP aiming for a breakout?
The price of XRP could be preparing for a breakout above 4 dollars before the end of February, according to emerging technical patterns shared by the renowned cryptocurrency analyst Dark Defender.
The analyst wrote in a post on X on January 30:
“XRP is pending confirmation on the 4-hour and 1-day timeframes for the breakout. The short-term target is 4 dollars with Sub-Wave 5, and the support is at 3.07 dollars.”
Still, XRP traders should be cautious of a potential bullish trap forming below 2.95 dollars. Although the altcoin bounced strongly from its weekly lows at 2.70 dollars, the recovery formed liquidity pockets that could be exploited downward.
With 3 dollars being a key support level, most long traders might have their stop losses just below that support, where market movements would push prices to collect liquidity. With a strong fair value gap of 1 hour and an overlapping order block between 2.98 and 2.90 dollars, this could be the potential buying and selling range for XRP.