๐ข Ripple (XRP) Prepares for Major Breakout Amid Market Volatility
As Bitcoin struggles to hold above the $70K level, XRP shows signs of forming a strong bullish structure on the daily chart. The consolidation range between $0.49 and $0.53 has tightened, indicating that a breakout may be imminent. With the ongoing legal clarity around Ripple and increasing whale accumulation, market sentiment is cautiously optimistic.
๐ญ My Thoughts:
If XRP breaks above the $0.53 resistance with strong volume, we could see a rapid move towards $0.60 and possibly retest the yearly high. However, itโs crucial to stay cautious โ fakeouts are still possible given the global market uncertainty and upcoming macroeconomic events. Iโm keeping a close eye on the RSI and volume divergence for confirmation.
๐ Strategy:
Currently holding a small long position and waiting for a confirmed breakout. Setting alerts near $0.535 and $0.545 zones.
