XRP Symmetrical Triangle Breakout Eyes 42–60% Rally to $4.5
XRP is trading within a narrowing symmetrical triangle on its 4-hour chart. The pattern is formed by a rising trendline from June and a descending resistance line from July. A recent pullback to the $3.08–$3.10 zone marked a retest of former resistance turned support. The token then consolidated near the lower boundary around $2.7–$2.8 after its July surge to $3.65. The tightening triangle suggests an imminent breakout. A break above resistance could push XRP back to $3.65 and on to $4–$4.5, a 42%–60% gain. A drop below the rising trendline would risk a retracement toward $2.70–$2.80. Traders should monitor trading volume, the 200-day moving average, key support at $2.8 and the descending trendline for decisive moves.
Bullish
XRP’s tightening symmetrical triangle and retest of key support suggest increasing bullish momentum. The potential breakout above resistance could trigger a swift move back to $3.65 and then to $4–$4.5, representing significant upside. Confirmation from rising trading volume and a 200-day moving average support provides added confidence.
In the short term, a successful break above the descending trendline may mirror July’s surge, encouraging more buying interest. Longer term, sustaining levels above $3.65 and clearing $4 could attract technical break traders and institutional capital. The downside risk is limited to the $2.70–$2.80 zone, which enhances risk/reward for bullish positions.