XRP Breaks Out of a Minor Channel to Set the Stage for an Upsurge
2025-07-01 11:38:57
Main Idea
XRP has broken out of a minor descending channel, signaling potential for an upsurge, with analysts targeting a short-term price of $2.40, driven by the launch of an EVM-compatible sidechain on the XRP Ledger (XRPL).
Key Points
1. XRP broke above a minor descending channel, indicating a bullish breakout.
2. Analysts are targeting a short-term price of $2.40 for XRP.
3. The breakout was fueled by the launch of an EVM-compatible sidechain on the XRPL, enabling Ethereum-style smart contracts.
4. XRP reached $2.3274 on Monday but pulled back to $2.2093, remaining above the $2.2 support level.
5. The EVM-compatible sidechain is seen as a fundamental catalyst for XRP's momentum.
Description
XRP has broken out of a key descending channel, a bullish technical signal The move was fueled by the launch of the new EVM-compatible sidechain on the XRPL Analysts are now watching for a push toward a short-term price target of $2.40 Most XRP community members believe the cryptocurrency is pointing to a classic technical breakout that has been further fueled by a major fundamental development. The recent surge also pushed XRP above a key descending channel, a move that one analyst believes is ...
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