Yes

>>XRP has broken back above a significant trendline, suggesting potential price increases to between $14 and $28.

XRP has broken back above a significant trendline, suggesting potential price increases to between $14 and $28.

crypthub

1 day ago

XRP's Recent Performance and Market Value

XRP experienced a significant jump of over 7% in the last 24 hours, recovering from a previous decline. The asset's value rose from $2.37 to $2.59, adding approximately $30 billion to its market capitalization. This increase coincided with a 17% rise in trading volume, indicating strong buyer interest. The recovery followed a selloff potentially triggered by tariffs.

Technical Analysis and Potential Price Targets

A chart analysis suggests XRP has broken out of a multi-year triangle pattern, formed since 2018. Based on Fibonacci extension levels, potential price targets are projected at $14 and $28. A flag pattern forming in 2024-2025 may pause the trend before further ascent, potentially between 2026 and 2028. The weekly closing above a trendline further reinforces the bullish outlook.

Short-Term Resistance and Momentum

XRP has moved above the 20 EMA on the 4-hour chart, signaling early signs of recovery, but remains below key EMAs, presenting short-term resistance. The Relative Strength Index (RSI) has improved, reflecting a positive momentum shift. For sustained upward movement, XRP needs to overcome these resistance levels.