XRP Coiled for Breakout: Eyes on $5
Price: $2.35 (+0.44%)
XRP is trading above a long-term rising trendline, consolidating tightly in a bullish compression pattern. Think of it like a coiled spring—the tighter it winds, the bigger the pop.
Breakout level: $2.70
Targets: $3.50 — $5.00+ if momentum confirms
Technical Breakdown:
1. Trendline Support:
Bounce off ~$2.00 holding strong since Nov 2024
Series of higher lows intact
2. Key Resistance:
Flat resistance at $2.70 — a breakout level to watch
3. RSI:
Neutral at ~50.88 — room to run
4. MACD:
Bullish crossover — momentum building
5. Volume:
Declining — typical before breakout moves
Strategy Zones:
• Buy Zone: $2.00–$2.20 (trendline support zone)
• Breakout Add-on: Over $2.70 with strong volume
Risk Management:
The longer the consolidation above trendline, the stronger the breakout can be.
But remember — this is all probability, not certainty.
DYOR. NFA. For educational purposes only.