XRP Price Consolidates Above Key Support, Targets $5 Breakout
XRP price is in a consolidation phase after dropping below $2.4, a pattern seen previously that may precede significant movement.
XRP Price Holding Above Key Support
- XRP remains above a long-term rising trend line.
- The current bullish consolidation resembles a "coiled spring."
- It has recorded higher lows over the past six months, indicating potential bullish momentum.
- Trendline support is at $2, with XRP currently around $2.3, more than 10% from this level.
- Resistance is identified at $2.7, suggesting room for upward movement before facing pushback.
- RSI is at approximately 50.88, indicating a reset and potential for upward bounce.
- MACD shows a bullish crossover despite low trading volume, which may signal upcoming breakouts.
When To Get In
- Recommended buy zone is between $2 to $2.2, aligning with trendline support.
- A strong volume breakout above $2.7 could indicate a continuation of the uptrend.
- If successful, targets include $3.50 and potentially $5, depending on consolidation duration above support.
