CandleFocus

XRP Bullish Setup Hints a $5 Breakout: Here’s Why It Matters

Author: Content Editor
The price action of XRP is currently forming a bullish pennant flag pattern, indicating the possibility of a strong rally. The token's daily chart shows two critical pennant formations that have driven its momentum. The second formation suggests a potential breakout and a projected 45% gain, pushing XRP to a target of $4.45. However, there are key levels of support and resistance that need to be considered. On the downside, a drop below $3.0 could disrupt the bullish setup, while resistance zones at $3.3999 and $3.7085 need to be overcome for the rally to extend. Signs of intense buying pressure and analysts' bullish sentiment further support the potential for XRP's price to rise. Analyst Dark Defender points out that a breakout above $3.11 could confirm the completion of the ABC corrective wave and lead to a climb towards Fibonacci orbit levels of $5.85 and potentially $18.22. Another analyst, Steph_iscrypto, envisions a transformative year for XRP in 2025, with a projected price increase to $85+ beyond key resistance at $5. Overall, there is optimism surrounding XRP's potential for growth.

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