In recent market movements, XRP has seen mixed price action and it fell by more than four percent on the weekly graph. At the time of the press, XRP is traded at $ 3.12 and it is somewhat driven to the green zone.
The most important scenario: price that is expected to reach new highlights
There is a scenario where XRP One could switch to the advantage before a possible trend shift. From now on the price is expected to rise, which may make a new peak. However, the crucial question remains: will this lead to further profit, or will it mark the peak of the rally before a correction starts?
After a five-phase pattern, an important top or larger correction usually follows, which gives an increased risk. This does not necessarily mean a bearish trend, but the current rally can approach its end.
Potential breakout goals: Where can the price -head afterwards?
At the smaller period of time, XRP is confronted with resistance at its highest peak of $ 3.30. An outbreak above this level could see the price increases to new goals, including $ 4.19, $ 5, and possibly even $ 6.61.
XRP recently completed an internal triangular pattern, which broke out on January 13 to the benefit. However, the price cannot break above its all time and a consolidation phase has since been introduced. There is currently no clear breakout signal and the price has above the most important support levels between $ 2.52 and $ 2.94.
These support levels have been respected several times and the price recently responded to the level of $ 2.81, which represents a 50% retracement. The expectation remains for a continuation of higher prices, with potential steps to $ 4.90 or even $ 5. However, it is also possible that XRP can form a different layer before you go up.
Traders have to watch out for an outbreak above $ 3.30 – $ 3.40 to confirm the continuation of the bullish trend. Until that happens, a withdrawal to the lower support levels remains a possibility.
