The post XRP Bulls Charge Ahead: Is the $3 Breakout The Path To a New ATH? appeared on BitcoinEthereumNews.com.

Coingecko data shows that XRP was trading at $2.55 at press time. That is a 6.78% rise over the last 24 hours. The market capitalization of XRP has now risen to $146.63 billion. The 24-hour trading in XRP has skyrocketed to $7.87 billion, suggesting a lot of market activity. Symmetrical Triangle Breakout Sparks Bullish Momentum XRP has broken out of a symmetrical triangle pattern that contained its price action since December. A triangle, made up by trendlines converging downwards, was a consolidation period before the decisive break above the upper resistance line was made. This breakout is a bullish indicator, with crypto analysts noting that buyers have regained control. According to EGRAG CRYPTO, XRP must maintain momentum above the $2.50 zone to confirm the breakout and target three key levels: $2.60, $2.75, and $2.91. EGRAG stated, “Every close above these targets serves as short-term confirmation that the ATH (All-Time High) is on the horizon.” – Advertisement – Source: X The bulls can keep the momentum going, allowing XRP to test the psychological $3 level, a big task to get there. Failure to hold the current levels may result in a retest of the previous resistance turned support, $2.30. Analyst Highlights Bullish Structure Crypto analyst Ali described XRP as having “one of the most bullish setups in crypto right now” after successfully retesting the breakout zone. In late December XRP broke above its resistance at $2.30. This formed the descending triangle pattern, as lower highs converged with horizontal support at $1.9489. After the breakout we took a retracement back to the previous resistance level and we now have a lot of support there. This supports the solid wave of bullishness which has been seen across since then, XRP targeting $2.60 and beyond in the near term. Calls for Regulatory Reform Pro-XRP…

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Filed under: News - @ January 15, 2025 10:24 am