XRP Bulls Eye $2.94 Break in Symmetrical Triangle
Crypto analyst CRYPTOWZRD highlights a symmetrical triangle pattern forming on XRPBTC that signals potential for a breakout. XRP ended the last session with an indecisive close, leaving traders focused on the key $2.94 resistance. A decisive move above $2.94 could unlock a fresh XRP rally, targeting the next major hurdle at $3.65. CRYPTOWZRD emphasizes the importance of Bitcoin dominance: weakening dominance may empower XRPBTC to break the triangle and drive an impulsive upside surge. The analyst also points to a double-bottom formation on the daily XRP chart and a breached lower-high trendline as bullish confluences. Traders are advised to monitor lower-timeframe charts for scalp opportunities once the breakout materializes. Should XRP remain below $2.94, sideways volatility may persist. However, a successful breakout could mark the end of consolidation and the start of a sustained rally, offering a strong long opportunity for traders.
Bullish
The analysis of XRPBTC’s symmetrical triangle setup and the double-bottom on the daily XRP chart suggests a bullish technical posture. A clear break above the $2.94 resistance, supported by diminishing Bitcoin dominance, has historically led to strong impulse rallies in altcoins. If XRP breaches this level, it could trigger a rapid ascent toward the next $3.65 hurdle, ending the consolidation phase. Traders familiar with prior altcoin breakouts following triangle patterns can expect heightened momentum and volume as confirmation. Even if short-term sideways action persists below $2.94, the alignment of multiple bullish indicators positions XRP for a sustained uptrend once the breakout materializes, making the outlook broadly positive for market participants.