XRP Bulls Eye $2.10 as Breakout Pattern Forms
XRP has been experiencing a sideways trading pattern after a significant rally, which some experts believe could be a 'bull flag', a brief pause in an upward trend that often leads to further price increases.
This comes after XRP broke out of its tight range it had been stuck in since the crypto bear market began last July. The current price movement has caught many retail traders off guard, as they assumed the recent spike to $1.70 was a sign of the move being over.
The key levels to watch are $1.43 and $1.30. If XRP closes above $1.43 for several hours in a row, it would confirm the breakout is genuine. On the other hand, if XRP falls below $1.30, the bullish setup would fall apart.
If XRP does break higher, analysts predict that its short-term target could be around $2.10, a move of roughly 56% from the current price. In the longer term, an even bigger target is in sight: around $3.68, which would mark a new all-time high for XRP.