Analyst Predicts XRP Could Reach $4 with Break Above Resistance
The XRP price is currently consolidating, with analysts noting a significant breakout setup that could drive its value toward $4. Key points include:
- XRP is trading sideways between $3.20 and $3.48.
- A resistance level at $3.48 is critical for potential upward movement.
- A successful breakout above this resistance could lead to targets of $3.8 and possibly $4.
- Downside support exists at $3.20; failure to hold this level may trigger selling pressure.
- Current price is $3.00, reflecting a 2.79% increase in 24 hours and 3.33% over the past week.
Additional insights from a 6-hour chart indicate:
- XRP has been forming higher lows within a consolidation channel.
- Support at $2.70 is critical for maintaining bullish momentum.
- Breaking above $3.20 - $3.40 on this timeframe would confirm a bullish continuation.
Market sentiment among analysts suggests that consolidation may act as a springboard for a rally, with the potential for XRP to quickly advance towards $3.8 and $4.
