XRP has broken through the historical high of $3.40, reaching $3.65, a significant breakthrough that the community has been eagerly anticipating. Over the past week, XRP has surged more than 40%, breaking out of a large symmetrical triangle pattern that has formed since the beginning of the year.
The breakout began around July 9, and the strong momentum continued for the following days. XRP broke through the resistance level of $3, a price point that has served both as support and resistance multiple times this year.
Why is $3 so important?
Analyst Lark Davis believes that the $3 level is crucial. In January and March, this level acted as a major resistance level, first serving as support and then as resistance. Now that XRP has broken through this level, the biggest question is: can it hold this level?
If so, analysts believe that based on technical predictions, XRP could rise to $4.10 or even $4.50. This target price is based on the height of the triangle pattern that XRP has just broken out of.
All eyes are on the retest
In the short term, the upcoming trend may depend on XRP's movement around the $3 mark. If the price retests $3 and holds, this could be a strong signal for XRP to rise again. If it breaks below this level again, XRP may consolidate between $2.60 and $3.
