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Apparently the price of XRP Positioning a potential breakthrough When he creates a falling tap, which the cryptographic analyst calls perfect Party configuration. After successfully testing the barrel purchase zone, technical indicators suggest that XRP is soon preparing for a powerful transition towards the level of 3.7 USD.
SIGNAL SIGNAL SPINE XRP Breakout
XRP is currently introducing what Robert Mercer, a cryptographic analyst of TRADINGVIEW, describes as an ideal breakthrough configuration after Extended consolidation period. This technical structure suggests that XRP may potentially experience a edged rally from the current price of USD 2.25 to USD 3.70.
In particular for a 2-day Chart of price XRPMercer noticed that the cryptocurrency is consolidating Falling wedge Since the end of December 2024, since the establishment of a local DNA at USD 2.11 at the same time, Altcoin has repeatedly tested the lowest level, without breaking under it permanently.
The 2.11 USD price zone also acted as a reliable level of support in the entire six -month -old falling wedge. Meanwhile, the price of XRP gradually squeezes in the wedge formula, which indicates a reduced variability and growing pressure near the Klin peak.
Looking at the chart of the TradingView analyst, it seems that XRP is now approaching the resistance of a falling wedge on the upper limit, which coincides with the level of 2.45 USD, at which the retest re -re -retest. This convergence is seen as a potential confirmation zone. If the shooting of the shoot is continued and XRP closes definitely above USD 2.45, the breakthrough would be confirmed by the end of the falling wedge and potentially initiates another movement of cryptocurrency.
Mercer emphasizes this The current stubborn structure of XRP It’s a straightforward but perfect configuration. Based on this configuration, prices above the wedge are projected at several stages, from USD 2.98, USD 3.36 and USD 3.71, which serve as resistance levels based on historical price activities and technical extensions. If the breakthrough persists and buying interest Persists, an expert on TradingView, predicts that XRP can reach the 3.5 – 4 USD region in the next three to five months, adapting to previous performances Similar wedge explosions available.
USD 1.40 still in the game if the resistance fails
While the current XRP structure supports stubborn perspectives, the Mercer price chart shows that a failed breakthrough remains possible. If XRP is rejected Again, at a resistance level of 2.45 USD may resume his consolidation As part of the falling wedge pattern. This would exert pressure to lower the price and can lead to a re -test of lower support zones.
The most critical level of support in this bearish There is about USD 1.4. Although this price level has not been tested directly in recent months, it means the lower limit of the falling wedge pattern. The division below this level may annul the XRP wedge and stubborn configuration. This may also indicate a possible change in the market structure from consolidation to the continuation of the bear, which may result in further minuses.
A distinguished picture from Getty Images, chart from TradingView.com
