XRP is forming a bullish flag pattern on the 2-day chart, suggesting a potential continuation of its previous upward trend.
The $2.35 resistance level is crucial. A breakout above this zone could open the path toward the $4.00 target.
Despite current price compression, breakout confirmation may require increased trading volume to validate upward momentum.
There is now a bullish flag forming in XRP on the 2-day timeframe, a sign that often indicates the previous rising trend will keep going. The data indicates that price is currently moving in a downward channel after a strong rise and is approaching a major breakout region.
At the time of writing, XRP was priced at $2.30, reflecting a 2.7% daily decline. The token is trading right above its support at $2.29 and the near-term resistance is holding firm at $2.35.
Flag Pattern Approaches Resolution
The bullish flag structure, visible on the mid-range 2-day chart, shows XRP consolidating within two parallel downward-sloping lines. This type of pattern typically follows a steep upward move, with the flag portion representing a temporary pause or pullback before continuation. The current structure suggests that XRP may be approaching the end of this consolidation phase.
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Chart data indicates a possible breakout point just above the $2.35 resistance. If price successfully breaches this level and holds above it, technical projections place the next target around $4.00. This would represent a move of over 70% from current levels, aligning with the measured move principle applied to flag patterns.
Price Movement and Market Behavior
Although prices have slowed on XRP, the coin has not shown much instability compared to its competitors. The pairing with BTC has slightly improved as well, now standing at 0.00002142 BTC, a rise of 0.8%. Because of how well highlighted they are, these stocks may hold public attention despite a lack of certainty across the financial markets.
Volume is neither high in any direction, indicating that traders are not convinced about pushing the markets into a clear breakout direction. Should the volume rise near $2.35, it would suggest that prices are likely to keep moving.
Technical Levels to Watch
There is not much movement in the current trading range; the support level is $2.29 and resistance is at $2.35. Breaking through support could cause the bull case to falter and make the market test the lower levels once again.
Alternatively, an official break-through of resistance can bring higher demand for the currency. As the chart setup nears its resolution, traders and analysts are closely monitoring price behavior around these key levels.
