- XRP is forming bullish patterns that signal a possible surge to $3.
- The jump from the $1.50 level could drive massive cost action.
- Market optimism grows as XRP consolidates and sets up for a rally.
The cryptocurrency market is packed with speculation as XRP shows signs of gearing up for a breakout. A recent 4-hour chart analysis by TheSqueakyMouse, a well-known technical analyst, suggests that XRP may soon revisit its all-time highs. With trading patterns and bullish momentum, XRP could be poised for a historic price surge. Let’s break down the details of this intriguing price action.
The XRP/USD 4-hour chart showcases a textbook symmetrical breakout, a classic pattern signaling market acceleration. Starting in early December 2024, XRP’s price action began consolidating, forming a series of higher lows and lower highs.
Symmetrical Triangle Breakout: A Game-Changer for XRP
The spike occurred in mid-January 2025, with XRP surging past the triangle’s upper obstacle line. After this move, the price entered another consolidation phase, forming a smaller triangle beneath the $1.50 level. According to the analyst, this smaller triangle could result in another breakout, potentially propelling XRP toward new highs.
Resistance Levels include $1.50, a technical and psychological barrier that XRP is currently testing. The $2.00 level represents a round-number resistance that could be tested if the breakout gains momentum, while $3.00, the all-time high, serves as the ultimate target for this rally.
Support and Resistance Levels for XRP Bulls
On the downside, Support Levels to watch include $1.30, which aligns with the lower boundary of the current triangle, and $1.10, a secondary support level corresponding to the breakout point of the larger triangle.
Momentum indicators highlighted by TheSqueakyMouse reveal strong bullish signals. The price’s upward trajectory aligns with the moving average, confirming sustained buying pressure. A volume spike during the breakout from the larger triangle adds credibility to the bullish momentum.
Market Sentiment: Can XRP Keep Up Its Bullish Momentum?
The crypto community’s attitude towards the token is positive, with many speculating that it is primed for a move. Social media platforms are filled with optimism, as financiers anticipate an eventual retest of the all-time high.
Nevertheless, some cautious voices urge traders to remain level-headed, emphasizing that repeated calls for new highs could lead to disappointment if the rally fails to materialize. Striking a balance between optimism and risk management is key.
The post XRP Breakout Signals New Highs as Bulls Aim for $3 Target appeared first on Cryptonewsland.
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