Can XRP Price Smash $3.50? Chart Patterns Signal Explosive Rally!

2024-12-15 23:30

World of Charts just updated his XRP price forecast in a viral tweet. A crypto analyst with over 40k followers on X is one of our favorite traders to cover.

XRP is down around 3.5% this week, now trading around $2.4. However, let’s see what World of Charts had to say about this topic.

Chart Patterns Unveil Potential XRP Breakout

His analysis of XRP’s price movement reveals an interesting technical setup that could potentially drive the XRP price to new heights. Examining the XRP/USDT 4-hour chart uncovers a compelling narrative of price action and potential momentum.

The current price action shows XRP consolidating in a tight range, with multiple bullish flag patterns emerging. These formations suggest a potential explosive move on the horizon. The XRP chart depicts a clear uptrend characterized by a series of higher highs and higher lows, indicating underlying strength in the asset’s price movement.

Source: X/@WorldOfCharts1 XRP Price Targets

Key resistance and support levels are critical to understanding XRP’s potential trajectory. The immediate resistance sits around $2.60, which represents a crucial breakout point. If XRP manages to breach this level, the measured move suggests a potential rally toward $3.50 – representing a 48.79% increase from the breakout point.

Support zones provide additional context, with strong support identified at $2.30 (the lower boundary of the current flag pattern), and additional support levels at $1.90 and $1.45. These levels represent previous consolidation and breakout areas that could act as potential safety nets for the price.

The current consolidation phase suggests reduced volatility, which often precedes bigger price movements. Traders and investors are advised to watch for increased volume and momentum as XRP approaches the $2.60 resistance level, which could confirm the potential bullish move.

Read also: The XRP Price Won’t Hit $10 In 2025, But Experts Predict These Altcoins Can 10x

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The post Can XRP Price Smash $3.50? Chart Patterns Signal Explosive Rally! appeared first on CaptainAltcoin.

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$ 2.2417 (-0.10%)
Объем 24H $13.048b
Изменеия 24h: -3.21 %, 7d: -6.90 %
Cегодня L: $2.1858 - H: $2.2506
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