Saad Ullah
XRP is capturing trader attention as it hovers around $2.96, showing signs of a potential breakout after months of consolidation. The cryptocurrency has broken above a significant long-term trendline, and technical analysts are spotting patterns that historically lead to major price movements.
XRP Price Builds Momentum After Consolidation
XRP is trading around $2.96, maintaining its gains despite recent market volatility. The weekly chart shows a clear wedge pattern - a technical formation that often signals major bullish breakouts are coming.
Market analyst @RizXRP points out that XRP is displaying strong structural support and following a familiar long-term accumulation cycle. These technical signals suggest the cryptocurrency might be gearing up for a significant upward move, similar to previous breakout phases in XRP's trading history.
XRP (XRP) Price Levels to Watch
The key resistance level to watch is $3.04, followed by $3.09 and $3.13. Breaking through these levels decisively could spark a fresh rally. If prices fall, support sits at $2.80, with a stronger safety net around $2.60.
This price action mirrors XRP's historical cycles, where extended consolidation periods typically lead to explosive upward moves. If the pattern holds, XRP could potentially reach $4-$5 in the medium term.
XRP has consistently shown resilience, recovering from major downturns to enter new bullish phases. With better liquidity, an expanding ecosystem, and growing investor interest, XRP appears to be entering a crucial stage.
If momentum holds and bulls defend the key support levels, XRP could establish itself as a leader in the next market cycle.
Saad Ullah
