XRP Traders Anticipate Breakout Amid Familiar Chart Patterns

XRP has gained attention following a slight rise after a period of sideways trading. Despite this, it remains down for the week. Traders have identified familiar chart patterns suggesting potential changes ahead.

Key Observations

Analyst DonWedge highlighted a downward-sloping channel in XRP's half-day chart, reminiscent of past movements.
The pattern suggests a possible repeat of historical behavior where price jumps followed prolonged declines.
Current lows align with a familiar range, hinting at potential upward movement.

Volume and Resistance

The major resistance level is close to $2.10. A daily close above this, coupled with increased volume, might indicate an uptrend.
A breakout could potentially push XRP towards $4, representing a 100% increase from current levels.
Traders caution that breakouts without volume support may lead to false trends.

XRP Chart

Outlook for 2026

Analyst ChartNerd forecasts 2026 as pivotal for XRP, predicting either a strong breakout or a fall below long-held support levels.
He notes that compression often precedes expansion, indicating potential significant moves.

The recent sideways trend has challenged investors' patience, but breaking past $2.10 could catalyze further gains. Investors are advised to watch for volume confirmations to validate potential upward movements.