XRP's Breakout Moment 🚨
XRP is playing out Scenario 1 perfectly, with a push to $2.30 and a potential retest of $2.25 as new support. This level is critical due to its alignment with the macro .382 retracement and the apex of the long consolidation zone.
Why $2.25 Matters
- *Macro .382 Retracement:* A key Fibonacci level that indicates strong support.
- *Apex of Consolidation Zone:* A crucial point where the price has historically found support.
Technical Indicators
- *RSI:* Momentum is strong, with no bearish divergence on lower timeframes. A small RSI reset on the retest could recharge the rally.
Potential Targets
If $2.25 holds, the next targets are:
- $2.69: A significant level that could indicate further upside.
- $3.04: A potential milestone that could signal the start of a full-on XRP rally.
Breakout Implications
A hold above $2.25 could confirm real strength and lead to a wave 3 up. Watch this level closely, as it may determine whether the breakout fails or explodes.
Summary
- Hold of $2.25: Confirmation of strength 🔓
- Above $2.69: Momentum builds 🚀
- $3.04+: Potential start of a full-on XRP rally 🌪️
The breakout season might just be heating up! ♨️