XRP price Poised for Breakout, Aiming for $3.55
XRP is holding steady at the $2.70 support level. A bullish pattern is forming, suggesting a potential breakout. If this happens, the price could surge to $3.55 and beyond.
The current price action shows a wedge formation. This pattern often leads to significant price movements once the breakout direction is clear. Traders are watching closely for signs of a bullish breakout.
Despite recent news of Ripple’s CTO leaving after 13 years, XRP remains stable. This shows strong demand at current levels. The price is trading above the point of control, a sign of strong buyer interest.
Key technical points include:
- XRP consolidating at $2.70, forming a bullish pattern.
- A breakout could push the price to $3.55 resistance.
- Trading above the point of control signals strong demand.
Volume metrics support the bullish outlook. XRP is trading above its point of control, indicating strong demand.The SEC’s decision to allow Ripple as a qualified custodian also boosts confidence in XRP’s future.
For the breakout to happen, strong volume participation is needed. Without it, the price could retreat to support levels. If XRP stays above $2.70 and consolidates near the apex, a bullish breakout becomes more likely. The next major target is $3.55, with potential for further gains if momentum continues.
