XRP is potentially on the verge of a breakout, with analysts noting critical support and resistance levels that could impact its trajectory towards $5.85. The token is currently trading within a descending triangle pattern, which suggests the potential for a significant breakout. Key support lies at $1.95, and if this level holds, XRP is well-positioned for an upward breakout. Immediate resistance levels are anticipated at $2.22, $2.72, and $2.90, with a long-term projection of $5.85. However, a failure to maintain the $1.95 support could lead to lower support levels and a bearish outlook. Regulatory developments, including the nomination of a pro-crypto advocate as the SEC Chair, could positively impact Ripple Labs, potentially resolving its legal battle with the SEC. However, XRP faces immediate challenges, such as the risk of falling below the $2 psychological barrier and increased selling pressure. Despite setbacks, XRP has seen significant gains of 258% year-to-date and a possible recovery may be on the horizon.



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