XRP Breaks Through Major Level! Target Prices of $4.80 and $7.13!
XRP has successfully stabilized at the key support level of $2.47 after breaking the long-term downtrend. With increasing trading volume and strong bullish patterns, the potential targets in the short term are $4.80 and $7.13.
How did XRP break through years of downtrend?
XRP successfully broke through years of downtrend with strong trading volume and a rounded bottom pattern, signaling a fundamental shift in market sentiment. From 2021 to 2023, XRP underwent a long accumulation phase, and after the breakout, the price stabilized upward, proving strong buyer interest in the market.
Technical patterns supporting the bullish trend of XRP:
This breakout originated from the descending wedge pattern of 2018 and the rounded bottom recovery, combined with soaring trading volume and active market participation. The RSI remains above 50, indicating sustained bullish momentum, while the MACD shows a short-term slowdown, suggesting a possible minor consolidation.
What are XRP's upward targets?
XRP is currently trading near $3.29, with resistance in the range of $3.50 to $4.00. If it stays above $3.00, the bullish trend will continue, with a technical target of $4.80, representing a potential increase of 44%. If momentum continues, $7.13 will become a long-term target.
Key Takeaways:
Breakout at $2.47: Signifies trend reversal and strong upward momentum.
Technical analysis points to $4.80 and $7.13: This indicates that XRP still has significant upside potential!
Bullish volume and RSI: Active market participation, promising price outlook!
Conclusion
After breaking through $2.47, XRP is entering a strong upward trajectory, with technical targets of $4.80 and $7.13. Investors should closely monitor the breakout of key resistance levels, which will guide future price trends. Follow my profile for the latest market analysis on XRP and more updates on crypto trends!
