This chart highlights a well-defined triangle pattern, with the first resistance level established at the yearly high of $2.90. Following this peak, the price entered a consolidation phase within the triangle, marked by repeated tests of the descending resistance and key support levels. This setup often signals a buildup of momentum before a major move.
With the recent breakout above the descending resistance, XRP is poised to start the year strong. A retest of prior resistance levels as support is likely, which, if confirmed, would pave the way for a significant upward move. Breaking above $2.90 would propel XRP into a new price discovery phase, where gains could accelerate rapidly. (We've seen this before, lots of FOMO!)
Adding to the bullish outlook, XRP has also gained attention as Ripple's CEOs recently met with Trump. With the Trump administration set to officially return on January 20th, expectations for a favorable regulatory environment could further fuel market optimism. My target for XRP remains to surpass $3 in Q1, potentially marking the start of a strong rally and new highs for the year.
With the recent breakout above the descending resistance, XRP is poised to start the year strong. A retest of prior resistance levels as support is likely, which, if confirmed, would pave the way for a significant upward move. Breaking above $2.90 would propel XRP into a new price discovery phase, where gains could accelerate rapidly. (We've seen this before, lots of FOMO!)
Adding to the bullish outlook, XRP has also gained attention as Ripple's CEOs recently met with Trump. With the Trump administration set to officially return on January 20th, expectations for a favorable regulatory environment could further fuel market optimism. My target for XRP remains to surpass $3 in Q1, potentially marking the start of a strong rally and new highs for the year.
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