XRP Analyzed as Bull Flag Pattern with Up to 70% Breakout Probability
Independent market technician EGRAG CRYPTO analyzed the XRP/USD chart, identifying a bull-flag continuation pattern since July 2024. The chart shows a ten-week consolidation channel, with key support levels at $1.50 and $0.60.
XRP Poised For Breakout
- Success rate for upward breakout estimated at 67–70%
- XRP trading near $2.30, with resistance marked by a blue dotted line
- Long-term trend remains positive, supported by the rising yellow moving average
- Three projected targets based on different methods:
- Logarithmic target: $18.00
- Linear target: $5.50
- Liquidity-adjusted average: $11.75
- Target variability due to thin digital asset order books ranges from $20.70–$21.60 for log target and $6.33–$6.60 for linear target
- Key levels to defend: mid-flag zone at $2.30 and structural pivot at $1.50
- XRP currently at $2.28, close above resistance could lead to rapid increases towards $2.50 and $2.71 Fibonacci levels
