XRP is nearing a critical resistance level, with technical indicators pointing to a potential breakout in the market.
Ascending Triangle and Its Significance for XRP
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. If buyers can push XRP beyond $3, the price could surge toward the $3.2–$3.4 range.
Expert Forecasts on XRP Price
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.
Potential Risks and Consolidation Scenarios
However, for this to happen, XRP must overcome strong selling pressure and maintain momentum above key resistance levels. In case of failure to surpass the resistance, prolonged consolidation or a retest of support near $2.50 may occur.
While technical indicators suggest a breakout is imminent for XRP, investors should remain attentive to resistance dynamics and potential market shifts.
