XRP’s $3.50-$4.00 Resistance: Analysts Monitor Triangle and Zigzag Patterns

• XRP may be forming a triangle (ABCDE) or a double zigzag (WXY), signaling a possible price shift.
• The $3.50-$4.00 range is a critical level for XRP, aligning with historical data and Fibonacci levels.
• Consolidation, volume, and momentum will determine XRP’s ability to break resistance or face retracement.

Ripple’s XRP appears to be closing a gap with its critical path in its medium time price move. Analysts are observing two potential chart formations, either a triangle (ABCDE) or a double zigzag (WXY), which could determine the token’s next move. Both scenarios suggest a possible breakout that may target the $3.50 to $4.00 price range, contingent on how the current range evolves.

Technical analysis by XForceGlobal observes that XRP’s price movement could be creating a triangle pattern, with alternating waves labeled as ABCDE. This formation often signals consolidation before a sharp breakout in the direction of the prevailing trend. 

Alternatively, the token might be forming a double zigzag, characterized by a complex corrective structure labeled WXY. Both patterns point to an imminent price shift, but the exact direction remains dependent on further developments within the range.

The $3.50 to $4.00 range emerges as a significant resistance zone for XRP. A breakout above this level could mark a pivotal moment for the cryptocurrency, potentially attracting increased market participation. This resistance range aligns with historical price data and Fibonacci retracement levels, underscoring its importance in the token’s price action.

Market timing and broader cryptocurrency trends will play a role in XRP’s ability to breach these levels. The ongoing consolidation phase suggests that a decisive move could occur soon, depending on how the current patterns are complete. Increased trading volume and momentum indicators will provide additional confirmation of the breakout direction.

If XRP successfully breaks through the $3.50 to $4.00 resistance zone, it could set the stage for more gains. However, failure to break out might lead to extended consolidation or a potential retracement. 

Observers will continue monitoring key indicators, including volume and price movement within the identified patterns. This potential breakout represents a critical moment for XRP as it navigates its next phase of market activity.