Symmetrical triangle formation signals a high-probability breakout in XRP’s daily chart.
Midterm price target set at $4.60, backed by tightening price action and decreasing volume.
XRP consolidates at $2.18 with a steep drop in trading volume, hinting at coiled momentum.
In what could be a defining moment for XRP, technical analysts and market watchers are closely eyeing the possible breakout, which could mark the beginning of a strong bullish reaction. As Q3 enters, investor optimism over XRP is rising as some of the crucial trends are coming into line, leading to a parabolic explosion.
Market data shows steady consolidation near the $2.18 mark, hinting at coiled momentum ready to erupt. As both technical formations and on-chain metrics converge, XRP may be gearing up for a surge that captures the attention of the entire crypto market.
Captain Faibik Predicts Breakout: XRP Chart Tightens Into Launch Mode
According to Captain Faibik, XRP is on the verge of a significant technical breakout, potentially igniting a major bullish run in the coming quarter. The chart posted by the analyst showcases a classic symmetrical triangle formation on the daily timeframe, with price action compressing between two converging trendlines.
This pattern typically signals a high probability of a breakout, and given XRP’s historical price behavior, traders are eyeing an explosive move if the upper resistance line is breached convincingly. The analyst underscores a midterm target of $4.60, suggesting a strong upside momentum could unfold if market sentiment aligns with technical triggers.
The chart illustrates prolonged consolidation, indicating decreasing volatility and growing tension within the market. This setup often precedes a decisive move, and Captain Faibik suggests Q3 could be the breakout quarter for XRP. The contraction of volume in the triangle also confirms the trend, and it prepares what may turn out to be a parabolic bounce when a breakout is established. At this moment, critical levels of psychology as well as resistance areas are being watched with all eyes on a possible break above the upper trendline and eventual start of the much-hyped monster rally in XRP.
XRP Holds Firm as Volatility Drops
Based on the most recent figures by CoinMarketCap, XRP is currently trading at $2.18 with a slight intraday loss of 0.89%, with a steep 48.8% reduction in the 24-hour trading volume currently resting at the figure of 1.33 billion. Its market cap is presently 128.98 billion, and the cryptocurrency ranks fourth in the volume of cryptocurrency deals.
XRP is experiencing a rather balanced price action in a narrow price range because the dip after the climax at the beginning of the day was not too notable and may indicate a short-term consolidation. As only 59 billion XRP are in supply out of the total supply of about 100 billion, the full diluted valuation (FDV) of the asset is large at $218.6 billion, with investors still confident about its future potential.
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