The post Weekend XRP Price Watch: Breakout or Breakdown Ahead? appeared on BitcoinEthereumNews.com.

XRP is trading within an ascending triangle, historically leading to an upside breakout in 70% of cases. A break above $3 could trigger a rally toward $3.2–$3.4, with analysts setting a long-term target of $5.8. Failure to surpass resistance may lead to extended consolidation or a retest of support near $2.50. XRP is nearing a critical resistance level, with technical indicators pointing to a breakout scenario.  The 12-hour chart reveals the formation of an ascending triangle, a bullish pattern that typically results in an upward breakout 70-75% of the time. This structure suggests that if buyers can push XRP beyond $3, the price could surge toward the $3.2–$3.4 range. Analyst Dark Defender has shared optimism about XRP’s trajectory, suggesting that clearing the $3 resistance zone could open the door for a rally toward $5.8, a projection that aligns with the 261.8% Fibonacci extension level.  However, for this to happen, XRP must overcome strong selling pressure and maintain momentum above key resistance levels. XRP’s Struggle at $3 Resistance Despite the bullish setup, XRP is still struggling to break past $3, which has acted as a major resistance barrier. Multiple rejection wicks near this zone indicate that sellers are actively defending this level.  A decisive breakout above $3 with strong volume would be a confirmation of bullish momentum, while another failure could result in continued consolidation or a potential pullback toward $2.50–$2.60. Related: XRP Whales Continue Accumulation Spree, 20 Million More Added Technical Indicators Signal Potential Shift The 4-hour chart shows that XRP is consolidating just below the $2.74 resistance level, where buyers and sellers are fighting it out.  The Relative Strength Index (RSI) is at 44.52, suggesting that XRP is in a neutral to slightly oversold zone. If the RSI moves above 50, it would indicate a shift toward increased bullish…

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Filed under: News - @ February 22, 2025 5:27 pm