XRP Technical Breakthrough: Symmetrical Triangle Consolidation Completed, $3.65 Target in Sight?
The longer the sideways movement, the more intense the breakout! XRP is stuck at the end of the triangle playing 'suffocating oscillation', with both bulls and bears waiting for that decisive arrow to break through the clouds!
Technical Analysis;
The captain looks at this 1-hour K-line, and XRP is practically performing 'Silent Hill' today—opening and closing price difference of less than 0.0003 USDT, with a daily fluctuation of only 0.19%, and trading volume shrunk to the size of a sesame seed.
This market is like being tightly clamped by two red descending trend lines, with 3.0 acting as a pressure mountain above and 2.70 as a support platform below, making it hard for the price to breathe.
Looking at today’s news makes it even more subtle:
1. Ripple Labs has just been reported to be negotiating CBDC cooperation with the Central Bank of Brazil, which should have been a catalyst, but the market hasn't reacted at all—indicating that positive expectations have already been fully digested.
2. The premium rate of USDT continues to decline, with insufficient capital in the entire market, and large funds are waiting for the September Federal Reserve meeting's direction.
This reminds me of last August's 'weaving market': at that time, XRP was also sideways in the 2.7-3.0 range for a whole two weeks, and finally surged 18% on the back of positive news from the SEC lawsuit. Now, the same formula yields the same flavor—low volume sideways movement is not the end of the market but the calm before the storm. In the short term, it is highly likely to continue grinding between 2.75-2.85, but once it breaks through the 2.85 neckline with volume, it may quickly test the psychological level of 3.0.
I suggest my brothers place limit orders at 2.75/2.85 and lie flat, or prepare USDT to wait for direction confirmation.
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