XRP Bulls Eye 10% Rally at Key Technical Level

XRP's price action is being closely watched by traders as it approaches a crucial technical level. Analyst Ali Charts has identified $1.54 as the key level that could trigger a breakout and potentially lead to a 10% gain for XRP.

The setup is based on a symmetrical triangle forming on XRP's hourly chart, which reflects a period of tightening price action. A confirmed hourly close above $1.54 would confirm the breakout and open the way towards $1.70, according to Ali Charts.

XRP has already shown that breakouts can lose momentum, with the token moving sharply higher in September only to return toward the $1.50 area. The importance of confirmation after a technical breakout is highlighted by this example, making an hourly close above $1.54 crucial for traders to consider.