XRP Price Breaks Key Resistance Level, Analyst Targets $3.57

Technician “BigMike7335” asserts that the XRP token has executed a textbook reversal on its daily chart, indicating a breakout.

XRP Breakout Confirmed

Current price at $2.5717 represents a 21% gain over the past week.
Breakout surpasses a six-month resistance level slightly above $2.40.
Closing above multiple moving averages (50-day EMA, 100-day EMA, 200-day SMA) suggests a bullish trend.
Formation of an inverted head-and-shoulders pattern, projecting a target around $3.58.
Volume profile indicates strong support between $2.30 and $2.50, with minimal overhead supply above $2.80.
Daily RSI is rising but not overbought; stochastic oscillator confirms upward momentum.
Critical support at $1.66027, failure to hold could invalidate the bullish outlook.
Analyst targets $3.57 as the next major resistance level.

As of now, XRP trades at $2.60.