Skip to content
- XRP forms bull flag pattern, signaling possible breakout ahead soon
- Viral post hints at chaos, sparking excitement among XRP holders
- Momentum remains strong as XRP trades above key support levels
A bold message from the Barron Trump Fan Account on X has sparked intense discussion across the XRP community. The account declared that “The next 10 days will be absolute chaos,” prompting many to examine current market conditions more closely.
According to the post, XRP could be heading toward a significant price shift. This corresponds with technical analysis that suggests hope of a breakout in the future.
At the moment, XRP is sold at the price of Y2.86, with the price range oscillating between $2.69 and $2.88 in the past 24 hours. The price is above the moving averages of 50 and 100 days, which indicates that the bullish force is still strong.
The daily Relative Strength Index is trading at around 64 levels, which remains well below the overbought level. This provides space for more upward momentum with no imminent selling pressure.
Further, bullish momentum has also been experienced in the MACD indicator, with the histogram moving higher during recent sessions. This indicates that the uptrend is still holding up.
Bull Flag Formation Signals Potential Breakout in XRP Price
On the 4-hour chart, XRP appears to be forming a classic bull flag pattern. The price rocketed up to $2.85, and then it had to consolidate in a narrow range.
This flag form can also be treated as a continuation pattern whenever accompanied by falling volume. An upside breakout near the level between $2.90 and $3.00 may provoke additional increases.
Based on recent trading patterns, the identified key resistance points are at $3.30 and $3.75. Given increased momentum, there is a possibility of testing the range of $4.00.
The volume has decreased in the phase of consolidation, as is familiar with bull flags. Unexpected volume surge may affirm the start of a powerful rally.
The futures in XRP have been increasingly seeing open interest among their holders, whilst funding rates remained neutral. This implies that traders are not overleveraging their positions by getting into positions cautiously.
Recently, XRP rebounded at the 38.2 percent Fibonacci level at the price of $2.32, bringing bullish conviction. The 1.618 extension indicates a cost of acquiring $4.10 in the future.
Technical indicators predict a breakout, which is being keenly monitored within the XRP market. The viral post’s lack of incremental impact on momentum has contributed to the soaring anticipation.
Also Read: Ripple CTO Shocks XRP Fans by Revealing He Bought at Just $0.006 per Token
