Ripple’s XRP showed a bullish breakout from a major technical pattern, indicating a potential price rise above $4. Leading analyst Amcrypto shared insights on The tweet confirms that XRP has historically seen strong upward movements in Q4 2024, and a similar trend may be in the works.
XRP Price Chart Analysis: Circular Bottom Pattern Signals Accumulating
The chart shows a rounded bottom formation, a pattern usually associated with accumulation phases. This structure represents a long period where sellers lose momentum, allowing buyers to prepare for a price collapse.
The yellow dashed line indicates the resistance area that XRP price struggled to break but has now crossed, indicating increasing bullish sentiment. The breakout candle, marked by a large green candle, indicates strong buying pressure, confirming the beginning of an uptrend.
XRP support levels and retest areas
The lower boundaries of the rounded bottom pattern established a crucial support range between $2.80 to $3.00. This area will likely serve as a safety net for prices during any potential declines.
Analysts often look to retest the breakout level – i.e. $3.20 to $3.30 – to validate the new support area before further upward movement. A successful retest would confirm the continuation of XRP’s bullish price trajectory.
Read also: Is Hedera preparing for a new all-time high? HBAR price prediction
Furthermore, Amcrypto highlighted XRP’s history of strong rallies in Q4 2024, adding that the next phase could push the price beyond $4. The claim is consistent with the concept of a measured move, where the choppy projection from the rounded bottom pattern supports a $4 target.
This technical and sentiment-based outlook reflects an optimistic stance on XRP price movements. With a momentum structure, market participants will likely be watching key support levels and trading volumes to confirm the strength of the trend.
Upside and price targets for XRP price
XRP’s breakout from the Round Bottom pattern positions it for potential gains in the coming weeks. The $4 price target is in line with psychological levels and historical resistance, providing a compelling outlook for traders and investors.
It indicates a combination of technical signals and increasing accumulation, as noted by Amcrypto That the price of XRP is Prepare for an exciting rally, provided broader market conditions remain favourable.
Follow us X (Twitter)for CoinmarketCap and binance field For more daily crypto updates.
Get access to all our future calls by joining Free telegram group.
We recommend etoro
Community of active users and social features such as news feeds, chats for specific coins available for trading.
A wide range of assets: cryptocurrencies along with other investment products such as stocks and ETFs.
Copy Trading: Allows users to copy the trades of prominent traders, for free.
Easy to Use: Etoro’s web-based platform and mobile app are intuitive and easy to navigate.
