Can It Spark a Strong Move Higher? 🚀
XRP price has dropped to a key support area around $2.65, forming a triangle pattern that could lead to a significant upside move. Analyst Matthew Dixon suggests that XRP has finished the E wave of this pattern, potentially setting up for a terminal fifth wave and a fast rally.
*Key Levels to Watch* 🔍:
- *Support*: $2.65-$2.68, a crucial zone that has held for months
- *Resistance*: $2.80-$2.90, $3.00-$3.05, and $3.15-$3.20
- *Potential Targets*: $3.37, $3.46, and $3.57 based on Fibonacci extensions
*Momentum Signals* 📈:
- *4-hour RSI*: Around 18, indicating a deeply oversold condition and potential reversal
*What to Expect Next* 🤔:
- A clear breakout above $3.00 could confirm the bullish pattern and lead to a strong move higher
- A drop below $2.65 would weaken the triangle idea and potentially send XRP price toward the mid-$2.50 area
*Trader Takeaways* 💡:
- Confirmation is key; without a clean push above $3.00, XRP could drift sideways or dip deeper
- The triangle base has held for months, and the oversold RSI supports the chance of an upside move
