This Analyst Says XRP Price is Getting Ready to Break Out Soon—Here Are Key Levels to Watch

2024-12-17 23:45

Popular analyst CryptoBull_360 revealed on X (formerly Twitter) that Ripple’s XRP price appears to be on the verge of a massive breakout. He shared a chart indicating XRP’s potential movement, sparking discussions among investors. The analyst’s tweet stated, “#XRP getting ready for breakout very soon, Keep an eye on,” aligning with the current chart signals pointing toward a bullish scenario.

XRP Price Chart Analysis

The chart indicates that XRP has been consolidating within a well-defined range following a previous downtrend. The price formed a horizontal support level, providing stability amid downward pressure. At the same time, XRP’s price has been testing a descending trendline resistance, which connects its series of lower highs over time.

This confluence of resistance levels has created a pivotal zone that traders are monitoring. If the price successfully clears this area, analysts suggest a strong upward movement could follow, fueled by momentum and renewed bullish sentiment.

Support and Resistance Zones Define Key Trading Areas

The chart highlights critical price zones. A horizontal resistance block is clearly visible, where the price has faced repeated rejections. This area serves as a major barrier that XRP’s price needs to overcome for a breakout confirmation.

Image Source: X/CryptoBull_360

On the downside, the analysis identifies a key support zone further below. This region has acted as a demand area where buyers stepped in previously, reversing downward movements. These zones are essential for traders as they plan their strategies, whether waiting for a confirmed breakout or managing risk near support levels.

Read Also: Market Analyst Eyes $30 as the Next Target for Polkadot (DOT) Price After Successful Retest – Here’s Why

Potential Price Targets and Post-Breakout Movement

Should XRP successfully breach the current resistance, analysts project the price could rally toward $1.30 or higher. The upward path illustrated in the chart suggests a steep climb, with momentum driving the move. However, a potential retest of the breakout zone may occur before the price continues its ascent.

The chart’s upward trajectory highlights an optimistic outlook for XRP if resistance breaks. Traders will watch for validation through price action, ensuring a confirmed breakout before committing to positions.

Furthermore, CryptoBull_360’s tweet reflects growing optimism in the XRP community. With the analyst emphasizing XRP’s potential breakout, market participants are increasingly attentive to price movements. This sentiment aligns with the chart’s signals, which suggest a high-probability bullish setup.

Overall, XRP’s price remains in a consolidation phase, approaching a key resistance zone. A confirmed breakout could lead to significant price gains, making this a pivotal moment for traders.

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The post This Analyst Says XRP Price is Getting Ready to Break Out Soon—Here Are Key Levels to Watch appeared first on CaptainAltcoin.

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Ripple (XRP) на Currencies.ru

$ 2.5148 (+0.36%)
Объем 24H $19.133b
Изменеия 24h: -0.86 %, 7d: 7.96 %
Cегодня L: $2.4815 - H: $2.6237
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xrp price analyst massive breakout verge shared

Источник: captainaltcoin.com

xrp price → Результатов: 126


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2024-10-16 23:00


XRP Price Set for Explosive Rally, Analyst Shares Timeline

XRP is getting close to a crucial level, and experts expect an upcoming breakout. Analyst EGRAG CRYPTO tweeted that XRP is likely to swing s in price during the next 15 to 30 days.  Complementing a thorough chart, the tweet highlighted important levels of support and resistance, therefore suggesting possible price targets for the short […] The post XRP Price Set for Explosive Rally, Analyst Shares Timeline appeared first on CaptainAltcoin.

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