XRP Breaks Out: Bullish Trend Suggests a 4% Upside Move

• XRP’s breakout signals a possible 4 percent rally to $2.68 if key support levels hold, maintaining bullish momentum
• Strong Fibonacci support at $2.5502 and $2.5365 helps prevent deeper pullbacks, reinforcing XRP’s uptrend
• XRP eyes $2.6821 as momentum builds with resistance at $2.6022, $2.6176, and $2.6399 based on Fibonacci extensions

According to analyst Ali, XRP has surged out of an ascending triangle in lower time frames, which is likely to push it for a possible 4% move up to $2.68. XRP/USDT stands at $2.5785 on Binance, a gain of 0.06%. This breakout occurred after a phase of consolidation with Fibonacci retracement and extension points indicating underlying levels of support and resistance. As long as the price stays over the major levels of support, the bullish configuration remains intact.

XRP’s Bullish Momentum and Key Support Levels

Other than the breakout, the Fibonacci retracement levels are solid supports at $2.5502 (0.786), $2.5365 (0.618), and $2.5078 (0.382). Additionally, $2.4926 (0.236) is another essential support level. These levels are important in sustaining upward momentum. If the price drops below these levels, there may be a deeper correction. However, XRP has always bounced back from the 0.618 retracement at $2.5365, showing bullish strength.

Source: Ali

Additionally, the ascending trendline connecting higher lows supports the uptrend. A breakdown below this trendline might shift the market structure, leading to potential downside risks. Meanwhile, volume and candlestick patterns indicate strong buying pressure near support levels, confirming bullish sentiment.

Fibonacci Extensions and Potential Resistance Levels

The Fibonacci extension tool projects key upside targets. The 1.272 extension at $2.6022 represents the next resistance. Furthermore, the 1.414 level at $2.6176 and 1.618 at $2.6399 indicate potential price objectives. If momentum remains strong, XRP could reach the 2.0 extension at $2.6821. This would result in a 4.11% increase from the breakout point.

Moreover, the price previously tested resistance at $2.5780 multiple times before breaking above. This level now serves as support. If XRP maintains above this level, further gains could be likely. However, failure to hold above key Fibonacci levels may weaken bullish momentum.