On the 4-hour chart, XRP is showing signs of coiling up for a breakout. The structure remains intact, as long as the broader market doesn’t break down, the chart looks primed for an upward move.
Launchpad Is Set – XRP Bulls Are Waiting For Confirmation
XRP is approaching a pivotal moment on the chart, according to SquirtleCharts’s post on X, and the key resistance level at $2.23 is acting as the gatekeeper. If it breaks above this level with strength and follow-through, it could unlock a rapid move toward $2.32, and from there it could surge to $2.65.
The structure is bullish, the altcoin has formed a solid base, momentum is building, and the price action is coiling within a framework. The launchpad is ready, but without an upward move in volume, the breakout could face rejection at the resistance zone.
Pinnacle_Crypto revealed that XRP is showing a bullish setup on the daily chart, currently trading within a descending wedge pattern, a formation associated with trend reversals and breakouts. The price has bounced strongly from the key support zone near $2.10, which also aligns with the 200 Exponential Moving Average (EMA), a technical level that acts as a dynamic support in trending markets.
Currently, XRP is aiming for a 25% move to the upside, with the next resistance target at around $2.85. A break above the descending wedge resistance could confirm the move and trigger further upside. It is consolidating within a symmetrical triangle pattern on the daily chart, a setup that precedes high-volatility breakouts. Price action is tightening, and with each dip bought up, FOMOwiz outlined that buying pressure is increasing, pointing to ongoing accumulation.
Momentum is building as altcoin compresses near the triangle. The structure suggests that a breakout is looming, and if bulls seize control, the price could surge toward the resistance at $3.35.
Triangle Pressure Building — XRP Prepping For A Breakout
XRP is in a critical accumulation phase on the 2-day chart, coiling within a massive triangle. This pattern is tightening price action where buyers and sellers reach a temporary balance, and heavy accumulation suggests that smart money is preparing for a move. CRYPTOMOJO_TA mentioned that Q3 is underway, and momentum could pick up dramatically, propelling price toward the $4.60 resistance level.
Another analyst, James, pointed out a striking similarity between the 2-week chart and the patterns observed during the 2017 bull run. The structure mirrors the giant accumulation triangle that formed back then, followed by a breakout pump that surges price into new highs, the same symmetrical triangle re-accumulation is now taking shape. Based on the chart pattern, James anticipates a final pump in price targeting a range between $4.5 and $5.4.
Featured image from iStock images, chart from tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
