Ripple Post-Consolidation Surge: What Are XRP’s Next Price Targets? (Analysis)
Ripple’s token has broken out from a prolonged period of consolidation against both USDT and BTC, showing renewed bullish strength across key timeframes.
The recent surge above multi-week trendlines and resistance zones puts XRP in a favourable position, but further confirmation is needed before calling a full uptrend.
Technical Analysis
The USDT Pair
XRP/USDT has successfully broken above the falling wedge pattern that had capped price action for the last few months. The breakout was accompanied by a strong move through the $2.50 resistance zone, which now acts as short-term support. The price is currently trading above both the 100-day and 200-day moving averages, located around $2,20, and the RSI is also hovering around 70, indicating overbought conditions.
If XRP manages to hold above the $2.50 level and consolidate, the next upside targets lie near $2.90 and $3.30. However, failure to maintain this breakout could trigger a pullback toward the $2.30-$2.10 region, especially if broader market sentiment cools off.
The BTC Pair
On the XRP/BTC pair, the price has broken out of a descending wedge pattern that has confined it since early March. It reclaimed the 2,200 SAT support and is now challenging the 2,550 SAT resistance area. Moreover, the RSI has climbed sharply to around 60, supporting bullish momentum.
For further upside continuation, XRP must flip the 100-day moving average, located near the 2,550 SAT zone, into support. If successful, a push toward 2,800 SAT and even 3,200 SAT could follow. If rejected, however, a retest of the wedge breakout level and the 200-day moving average near the 2,300 SAT mark is likely.
The post Ripple Post-Consolidation Surge: What Are XRP’s Next Price Targets? (Analysis) appeared first on CryptoPotato.
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Ripple Post-Consolidation Surge: What Are XRP’s Next Price Targets? (Analysis)
Ripple’s token has broken out from a prolonged period of consolidation against both USDT and BTC, showing renewed bullish strength across key timeframes.
The recent surge above multi-week trendlines and resistance zones puts XRP in a favourable position, but further confirmation is needed before calling a full uptrend.
Technical Analysis
The USDT Pair
XRP/USDT has successfully broken above the falling wedge pattern that had capped price action for the last few months. The breakout was accompanied by a strong move through the $2.50 resistance zone, which now acts as short-term support. The price is currently trading above both the 100-day and 200-day moving averages, located around $2,20, and the RSI is also hovering around 70, indicating overbought conditions.
If XRP manages to hold above the $2.50 level and consolidate, the next upside targets lie near $2.90 and $3.30. However, failure to maintain this breakout could trigger a pullback toward the $2.30-$2.10 region, especially if broader market sentiment cools off.
The BTC Pair
On the XRP/BTC pair, the price has broken out of a descending wedge pattern that has confined it since early March. It reclaimed the 2,200 SAT support and is now challenging the 2,550 SAT resistance area. Moreover, the RSI has climbed sharply to around 60, supporting bullish momentum.
For further upside continuation, XRP must flip the 100-day moving average, located near the 2,550 SAT zone, into support. If successful, a push toward 2,800 SAT and even 3,200 SAT could follow. If rejected, however, a retest of the wedge breakout level and the 200-day moving average near the 2,300 SAT mark is likely.
The post Ripple Post-Consolidation Surge: What Are XRP’s Next Price Targets? (Analysis) appeared first on CryptoPotato.
Read More
XRP Price Prediction: $36 Is In The Cards As 3-Month Timeframe Turns Bullish?