The price of XRP is exhibiting a bullish triangle pattern, sparking discussions in the market about whether it can break through $5 in December.
Despite the potential risk of a pullback, XRP, as the leading cryptocurrency, does not seem to be significantly affected, with the current price rising again by 1.67%.
In November, XRP achieved an astonishing increase of 270%, exceeding expectations, but bullish forecasts suggest this is just the beginning, with expectations that XRP could reach higher levels by 2025.
However, the price trend of XRP shows some cracks, with recent gains slightly slowing down and trading volume decreasing by 38%, dropping to $11.4 billion.
The rapid rise in the price of XRP recently may have been too swift, and technical indicators are beginning to sound alarms.
Although the weekly RSI indicator has been deeply entrenched in the overbought zone, reaching 88 points, a pullback seems to be a natural and healthy step for XRP to seek the next round of solid support.
Well-known anonymous analyst Egrag Crypto stated in a post on platform X that this pullback may not significantly impact XRP's path to the $5 target.
As a professional blogger, the above article summarizes the key points of XRP's price trend.