XRP Analyst Sees 10% Rally if Key Level is Broken

XRP could see a significant rally if it manages to break above a key level, according to an analyst. The technical setup suggests that XRP needs to close above $1.54 in a single hourly candle for prices to reach $1.70, representing a 10% increase.

However, the analyst also notes that this setup ignores the fact that these patterns frequently fail. A recent 'breakout' past $1.38 saw prices crumble shortly after hitting $1.60.

The analyst warns that betting on a one-hour window is a dangerous game where chart patterns often trap optimistic traders before a reversal.