Expert Says XRP Big Breakout Will Happen, But This Must Play Out First
Main Idea
An analyst predicts a potential major breakout for XRP, contingent on breaking a long-standing resistance level against BTC, while noting current consolidation in XRP/USD trading.
Key Points
1. XRP/BTC is trading below a descending trendline dating back to 2015, which has resisted breakouts in 2017, 2021, and 2024.
2. XRP/USD has cooled after reaching a local high of $3.64 in mid-July, now trading between $3.09 and $3.17.
3. A confirmed breakout requires a weekly close above the multi-year resistance on the XRP/BTC pair, with failure risking a drop to support levels at $3.00, $2.95, or $2.30.
4. The analyst emphasizes that the anticipated breakout has not yet occurred and must be confirmed for XRP's bull run to begin.
Description
XRP is once again drawing intense attention as it approaches a decisive technical level on its Bitcoin trading pair, a level that has capped its upside for over 3,000 days. According to leading analyst Galaxy, the long-awaited XRP bull run hinges on one critical event: a confirmed breakout above this historical resistance line. Until that occurs, the explosive upside potential remains on hold. A 3,000-Day Resistance That Refuses to Break In a recent analysis shared on X, Galaxy illustrated that ...
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