Traders Stock Up on XRP in Anticipation of an Explosive Breakout

XRPUSDT has entered into an accumulation period between $0.6235 and $0.6800. Furthermore, a symmetrical triangle has formed on XRP’s 4-hour chart, which suggests that a breakout may soon take place. A potential indication of which direction XRP could break in is the medium-term positive price channel that the remittance token has been trading in over the past couple of weeks.

Should XRP breakout towards the upside in the short-term, then it may attempt to flip the $0.6800 resistance level into support. Thereafter, persistent bulls could boost the remittance token’s price to $0.7595 in the next week. On the other hand, a negative breakout could lead to XRP retesting the immediate support level at $0.6235 in the following few days.

The daily Relative Strength Index (RSI) indicator shows that XRP’s upside potential is greater than its downside potential. As a result, traders may look to add the undervalued altcoin to their bags in the next few days.