Is XRP ready for a breakout?
Bitcoin is breaking out of its range, and XRP is leading the altcoin rally with a major technical breakout. Currently trading in a range between $1.40 and $1.42, the asset has posted notable gains over the past 24 hours. According to the data, this meteoric rise is directly fueled by a massive spike in trading volumes. This sudden surge in interest shows that buyers are stepping back in with force.
This rally does not come out of nowhere. After a period of consolidation, price compression finally gave way to bullish pressure. Breaking the $1.40 mark is not just a simple speculative move: it is accompanied by increased market participation, validating the strength of this short term uptrend.
XRP has now formed a new downward trendline. A breakout above this line at $1.4178 would push XRP toward its short cluster around $1.48. Nevertheless, XRP is facing a liquidity zone, as indicated by the volume order block at $1.43. This zone also aligns with the 9 hour POC. While reclaiming the $1.40 level is promising, the asset must now hold this ground and break through $1.43.
Can XRP shatter its upcoming resistance levels?
From a technical standpoint, the XRP setup is particularly bullish. The breakout above $1.40 has wiped out numerous short positions, paving the way for fresh momentum. Momentum indicators, such as the RSI, show a clear acceleration without immediately entering the overbought zone. This suggests that there is still room for bullish continuation before a potential correction.
However, the real test lies in the ability of the price to maintain this level. If $1.40 becomes a confirmed support, the next major target is around the $1.47 resistance. Conversely, a sharp rejection at these levels could lead to a retracement toward the $1.35 to $1.33 zone, a key short term liquidity level to keep the bullish structure intact.
How high can the XRP price go after this breakout?
The current scenario offers two distinct perspectives for investors. In a bullish scenario, validating $1.40 as a solid base could propel XRP toward $1.48, or even $1.60 to $1.80. Nevertheless, the daily POC at $1.41 and the overhead bearish order block stand as two formidable hurdles to overcome.
In this context, Fibonacci allows us to identify the next potential targets, whether for the bearish or bullish scenario.
Here are the key levels to watch (Fibonacci + Pivot Points)
Related Articles:
