XRP Poised for Breakout as Resistance Turns to Support
Market analyst Matt Hughes (The Great Mattsby) sees XRP on course for a major breakout. Using the Gann Fan on the weekly chart, Hughes identifies key resistance levels at $0.50–$1 and the 2021 peak at $1.96 now acting as support. He highlights the $3.00 mark as the decisive line: a sustained hold above signals structural strength and sets the stage for a rally. XRP currently trades near $2.86 after failing to eclipse $3.65. Macro investor Raoul Pal echoes the bullish view, noting XRP’s history of long consolidations followed by sharp spikes. Traders will watch the $3.00 support for confirmation.
Bullish
Matt Hughes’ Gann Fan analysis shows historic resistance levels flipped to support, with $3.00 as the decisive line. This mirrors 2017 and 2021 patterns where similar flips preceded sharp XRP rallies. In the short term, a confirmed hold above $3.00 could trigger immediate bullish momentum and end consolidation. In the long term, breaking this level may sustain a prolonged rally phase and draw in more buyers. Traders often view support flips as strong buy signals, which can boost market demand and propel prices upward.