XRP Poised for Explosive Growth: Analyst Targets $4 Amid Key Breakout XRP, one of the cryptocurrency market's most closely monitored assets, is currently displaying robust technical indicators pointing towards a potential price explosion. According to a prominent market analyst, a significant breakout from a multi-month formation could propel XRP towards the $4 mark, a level reminiscent of its peak performance in previous bull runs.
XRP Poised for Breakout Above Critical Resistance
Multi-Month Triangle Breakout on Daily Chart
Crypto market analyst HolderStat, observing the daily timeframe on TradingView, highlights that XRP has successfully broken out of a large triangle formation that had been developing for several months. While this initial surge led to a temporary peak and subsequent consolidation, the current sideways trading between $3.20 and $3.48 indicates a healthy absorption of selling pressure, signaling preparation for its next upward movement.
The $3.48 Resistance: A Gateway to New Highs
The immediate resistance level at $3.48 is now the focal point for traders. HolderStat's analysis suggests that a decisive breach above this line could unlock higher price targets, with projections reaching $3.8 and potentially $4. These levels would mark a significant milestone, harking back to XRP's all-time high rally during the 2018 bull market. On the downside, the $3.20 level remains a critical support; failure to maintain it could lead to renewed bearish pressure and steeper corrections.
Accumulation Pattern Reinforces Bullish Outlook
Higher Lows Signify Growing Bullish Control
Further reinforcing the optimistic view, HolderStat's 6-hour chart analysis reveals a detailed accumulation pattern. This shorter timeframe shows the token printing consistent higher lows while consolidating within a channel, a classic indicator that bullish forces are gradually taking control as selling pressure subsides. The steadfast holding of the $2.70 support level is crucial for sustaining this bullish structure.
Market Consensus on Potential $4 Rally
A successful move beyond the $3.20 – $3.40 range on the 6-hour chart would confirm the continuation of this bullish trend, aligning with the daily analysis. This sentiment is echoed by other market experts, such as TradingView's SwallowAcademy, who describe the market as "coiling up," with the current consolidation acting as a launchpad for the next rally. Should momentum intensify, a rapid advance towards $3.8 and $4 in the short term is anticipated. At the time of writing, XRP is trading at $3.00, marking a 2.79% increase over the past 24 hours and 3.33% in the last seven days.
