Will XRP Price Hit $6.39 Amid Bullish Key Indicators?
The post Will XRP Price Hit $6.39 Amid Bullish Key Indicators? appeared on BitcoinEthereumNews.com.
XRP price broke the descending triangle pattern recently to indicate bullish conversion, with a sharp advance above $2.36. With this key breakout and a set of positive technical signals, the top crypto is ready for a sustained upward trend. With a key indicator flashing a buy signal and the wave structure aligning for a potential fifth wave, XRP may price hit $6.39. XRP Price Triangle Breakout Sparks Bullish Sentiment XRP recent price activity led to a strong breakout from a descending triangle, a shape that historically has been indicative of positive price movement. This pattern, identified by crypto analyst JacktheRippler developed with a distinct downward trend towards lower highs forming around a flat support area at $1.79 over several months. XRP Price Chart Source: X Notably, a breakout beyond the descending trendline, reinforced by robust volumes, indicates an important shift and puts XRP to break above the key $2.36 resistance. This is an indication that XRP price corrected the momentum and is ready for a further upward swing. Furthermore, the breakout positioned XRP to aim at the $2.50 to $3.00 range with previous resistance levels that could be the next major barrier. This momentum shift aligned with increased bullish sentiment among traders, signaling a possible continuation of the upward trend in the coming weeks. SuperTrend Buy Signal Adds to Bullish Case Another critical indicator, the SuperTrend buy signal, has also recently shown a bullish signal as XRP price broke past the $2.34 limit. The SuperTrend, a widely used momentum indicator, shifts to a buy signal when the price breaks above its trailing stop level, indicating that buyers have regained control. This confirmation reinforced the breakout trend and is further a confirmation of the expectation of future upward action. XRP Price Chart Source: X Historically, SuperTrend signals often coincide with prolonged…
Filed under: News - @ May 12, 2025 2:23 am