On Jan. 11, XRP breached its immediate resistance at $2.50 and consequently witnessed a bullish breakout from its triangle/pennant pattern. The pennant, which took shape over 42 days or seven weeks, has a technical breakout target of $3.50, which is 50% from $2.35, or the point of pattern break.
However, the altcoin must close a daily candle above key resistance between $2.60 and $2.48 and flip the above range into support. The relative strength index (RSI) currently consolidates above 50, implying that bullish pressure continues to build for the altcoin on the long-term chart.
A daily close above $2.60 would allow XRP to move swiftly above $2.72 and $2.90 due to the sell-side liquidity present just above these levels.
