XRP Analyst Eyes Crucial Breakouts Ahead of Next Weekly Close

Crypto analyst JD is eyeing key bullish signals for XRP as it approaches its next weekly close. According to JD, if both the Relative Strength Index (RSI) and price action confirm a breakout above multi-year trendlines, it would reinforce the prospects of a sustained upward movement.

JD highlighted that XRP's RSI is nearing a level where it could break out above a multi-year trendline while the price climbs out of a falling wedge pattern. A falling wedge is a technical chart pattern often associated with potential trend reversals when the price breaks above the upper limit.

JD referenced his previous market gains below the $3.37 level in earlier cycles and mentioned that he still holds a long-term position with an eye on the 2027-2028 cycle. He suggested that should the technical setups materialize, the next cycle could generate even greater returns compared to previous rallies.

However, JD emphasized that broader market confirmation is still necessary, noting that a 'pink box' scenario referenced in his chart remains valid until Bitcoin logs a higher high followed by a higher low. This caveat underscores the interconnectedness between major digital assets and market sentiment.