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XRP has been a major player in the crypto world for years, known for connecting traditional finance with blockchain. With prices nearly 40% down from their all-time high of $3.8, many investors are wondering, is this the perfect time to add XRP? Let’s see what the XRP price prediction says.
XRP Stuck In Symmetrical Pattern
XRP is showing signs of a major breakout as it trades within a symmetrical triangle pattern. This means that XRP has been moving within a narrowing range, forming lower highs and higher lows.
According to crypto analyst Ali Martinez, this formation suggests that XRP could soon see a 23% price movement in either direction.Â
As of now, XRP is trading around $2.34 reflecting a drop of 7.5% seen in the last 24 hours. If XRP breaks above the triangle and records a 23% surge it could climb near to $3. However, if the price falls below support, XRP might drop to around $1.81
What Could Trigger the Breakout?
Several factors could push XRP out of this consolidation phase. One key reason could be the ongoing legal battle between Ripple and the U.S. SEC. If positive news comes out from the recent close-door meeting, it might boost investor confidence and push the price higher. On the other hand, uncertainty in the case could lead to a downward move.
Market conditions also play a key role. If Bitcoin and other cryptocurrencies stay strong, XRP could move upward. But if selling pressure increases, XRP might lose momentum and break downward instead.
In addition to this, any advancement in the process of XRP ETF could be positive news for XRP.
RSI Indicators & Resistance Level To Wach
Technical indicators suggest that the Relative Strength Index (RSI) is currently at 45, showing that XRP is neither overbought nor oversold. If it moves above 60, it could signal strong buying pressure, while a drop below 40 might indicate weakness.
At the same time, Bollinger Bands shows that XRP recently touched the upper band near $2.87 but faced rejection, causing the price to settle around $2.50. Now, XRP is testing a key resistance level that has influenced its price before.
If it manages to rise above $2.598, which aligns with the 0.118 Fibonacci retracement level, it could break higher toward $3.05.
