- XRP’s breakout above key support levels suggests a continued upward trend, with $1.85 as a potential entry point.
- Resistance levels at $2.9520, $3.3967, and $3.8767 indicate strong bullish momentum if support holds.
- A confirmed Double Bottom pattern could drive XRP to $2.65 and $3.00, provided $2.07 support remains intact.
XRP broke out of a falling pattern and started consolidating above important support points. This suggests that the market may continue to trend higher over the next several weeks. Rose Premium Signals highlighted that $1.85 could be a good entry point for traders if the price returned to that level. It offers traders a good opportunity to enter at favorable prices.
Source: X
The significant levels of resistance for XRP are at $2.9520, $3.3967, and $3.8767, which portray a positive attitude toward the market. If XRP doesn’t fall below key support levels, the market setup remains favorable for potential increases. Whenever prices fall, investors may find it a good time to enter the market at a reduced cost while waiting for the uptrend to continue. The current market appears favorable for capitalizing on these opportunities.
XRP Double Bottom Pattern
Analyst Egrag Crypto revealed that the development of a Double Bottom pattern on the charts suggests that XRP could experience a bullish move. It usually indicates that prices are likely to keep moving upward. If the price breaks through $2.30 on the 3-day chart and also rests above the 21-day EMA, then the Double Bottom pattern will be confirmed. As a result, XRP may be able to move closer to $2.65 and even $3.00.
Source: X
Nevertheless, the primary line of support is currently at $2.07. When XRP is above this point, it signals that the positive momentum is likely to remain. If prices stay below $2 on three consecutive days, that could indicate a structural failure and might influence the market’s opinions. It is important for traders to keep an eye out, since the market generally checks support levels prior to making big moves. However, XRP’s outlook will stay positive as long as $2.07 continues to provide support.
At the time of writing, the price of XRP is $2.18, and its trading volume in the past 24 hours was $1.13 billion. The price grew by 0.48% in the last 24 hours but dropped slightly by 0.27% over the last week.
The current trend is bullish for Ripple, and prices have the potential to reach around $2.65 and $3.00 in the near term. Signs in the market indicate that support is holding up the trend in an upward direction. If cryptocurrency stays above the important support levels, traders may expect its price to increase. But traders should continue to be alert and notice if the market falls below $2.07.
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