Expert Ripple Van Winkle has highlighted a tightening pattern on the XRP chart, indicating an imminent breakout.
Technical Analysis of XRP
XRP has been exhibiting a narrowing range. According to analysts, this technical pattern often signifies an imminent breakout. Currently, XRP trades around $2.12, and analysts suggest that if the price breaks the $2.35-$2.40 resistance, it could quickly reach $2.60 and even $3.00.
Accumulation Signals and Institutional Confidence
Despite public focus on Bitcoin and Ethereum, there is an increasing accumulation of XRP among large holders. These 'whales' are steadily adding to their positions, indicating strong confidence in the future price increase.
Market Psychology and Timing
Van Winkle's post emphasizes not just patterns, but timing and market psychology. He warns that markets reward those who prepare early, while many may miss the opportunity for favorable entries when prices begin to rise.
While XRP may not always be in the spotlight, the current consolidation and interest from institutional investors may lead to a significant price spike.
