Usman Salis
The crypto market's attention is turning to XRP as multiple technical indicators suggest the digital asset could be gearing up for its next major rally. With bullish patterns forming on the charts and key momentum indicators flashing green, traders are watching closely for what could be XRP's next significant price move.
XRP Price Shows Bullish Breakout Signals
Recent analysis shared on social media platform X highlights XRP's compelling technical setup. Trading at $3.2814 with a daily high touching $3.3008, the cryptocurrency appears to be breaking free from a bullish pennant formation that has been building momentum over recent sessions.
The daily MACD indicator has just delivered a bullish crossover - a technical signal that often precedes substantial upward price movements. This momentum shift, combined with the pennant breakout, has analysts eyeing the $3.80 target level as XRP's next major resistance point.
What makes this setup particularly interesting is the supporting volume surge to 387.46K XRP, indicating genuine buying interest rather than just technical noise. The RSI sitting comfortably at 54.14 suggests there's plenty of room for further upside before hitting overbought territory.
Technical Levels Point to Higher Targets
The current technical picture shows XRP holding strong above its key moving averages. The EMA 20 at $3.1433 and EMA 50 at $2.9293 are providing solid support levels, creating a foundation for the potential rally to $3.80.
For bulls to remain in control, XRP needs to maintain its position above the pennant resistance level. A confirmed daily close above this threshold would likely trigger additional buying pressure and potentially accelerate the move toward the $3.80 target.
However, if the breakout fails to hold, traders should watch for a potential retest of the EMA support zones before any renewed attempt at higher levels.
Usman Salis
