XRP on the Verge of Breakout: Analyst Predicts Price Surge

XRP bulls are back in charge, with prominent analyst “360 Trader” calling for a significant price increase. Citing a bullish symmetrical triangle pattern on the weekly charts, 360 Trader believes XRP is poised for a breakout, regardless of broader market sentiment.

XRP Technicals Point to Upside

• Symmetrical Triangle: This chart pattern often indicates a breakout, and XRP’s price is nearing the apex, where a decisive move is expected. 360 Trader predicts this move will be upwards.
• Rising Trading Volume: Trading volume has surged in recent weeks, surpassing 12.94 billion XRP in the last seven days. This increased activity often precedes major price movements.
• Ascending Trendline: Despite facing resistance, XRP’s price has maintained a steady upward trajectory since early 2023, suggesting underlying bullish momentum.

Key Resistance Levels

• $0.65: Breaking above this critical level could trigger a significant rally. Many investors are closely watching to see if XRP can overcome this hurdle.

Analyst Confidence & Mixed Reactions

• 360 Trader: Based on technicals, the analyst believes XRP’s price will skyrocket soon.
• Max Schwartzman (Bitcoin Analyst): He recently started accumulating XRP, citing historical price patterns and aiming for an eightfold return within a year.
• Skeptics: Some market participants remain unconvinced, pointing to past failed XRP breakout predictions.

Current Price Action

XRP is trading above $0.58, building on recent gains. A clear break above $0.5920 and $0.600 could signal a stronger bullish move. Support levels lie at $0.580 and $0.570.