The post XRP Consolidates in Symmetrical Triangle; Whale Accumulation Raises Speculation for Potential Breakout appeared on BitcoinEthereumNews.com.

XRP is compressing within a symmetrical triangle pattern indicating strong market interest and strategic whale accumulation. Recent on-chain analytics suggest that large holders are positioning themselves for a significant upward trend. “The continued accumulation by larger wallets reflects growing confidence in the long-term potential of XRP,” a report from COINOTAG noted. This article explores XRP’s technical consolidation, whale accumulation behavior, and future price targets as market dynamics shift. XRP consolidates within a technical formation As of the latest trading session, XRP has shown a price of $2.18, situated near the lower bounds of a well-established symmetrical triangle on the daily chart. This triangular formation is a significant indicator, often suggesting either a continuation of the current trend or a reversal, largely dependent on the breakout direction. Key price levels have repeatedly reacted at both the support and resistance lines, indicating the market is tightening as it approaches the apex of the formation, often a precursor to a major directional move. Source: TradingView The critical support area ranging from $2.00 to $2.11 has shown significant strength historically, bolstered by notable volume nodes evident in the Volume Profile Visible Range (VRVP). As XRP moves closer to this vital support level amidst waning volatility, bulls are possibly positioning for a bullish rebound. Price targets contingent on a breakout In the event that XRP breaks above its descending resistance trendline, immediate price objectives include $2.60, $2.84, $3.00, $3.21, and ultimately $3.40. These potential targets are consistent with key Fibonacci retracement levels as well as previous price action clusters. Additionally, the Relative Strength Index (RSI) indicates that XRP is not currently overbought, suggesting there is ample room for continued upward movement. Conversely, should XRP fail to maintain support around $2.00, downside risks may surface, with subsequent support levels potentially located near $1.77 and $1.60. On-chain…

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Filed under: News - @ March 30, 2025 9:20 am