XRP Shows Potential Breakout After Reclaiming $2.62 Neckline Amid Double Bottom Formation
2025-07-16 02:43:30
Main Idea
XRP shows potential breakout after reclaiming the $2.62 neckline, confirming a double bottom reversal pattern, with resistance at $2.91 and strong bullish momentum across major trading pairs.
Key Points
1. XRP broke through the $2.62 neckline on the 3-day Heikin Ashi chart, confirming a double bottom reversal pattern with a 7.2% gain.
2. Key price levels for XRP are support at $2.62 and resistance at $2.91, with a breakout above $2.91 potentially signaling further upward momentum.
3. XRP gained 7.1% against Bitcoin, reaching 0.00002383 BTC, reinforcing the bullish outlook across major trading pairs.
4. The $2.62 to $2.91 range offers clear parameters for traders, with a retest of $2.62 providing a potential low-risk buying opportunity.
5. XRP's performance against Bitcoin mirrors the double bottom pattern seen in its USDT pairing, supporting the short-term bullish bias.
Description
XRP has confirmed a significant breakout above the $2.62 neckline, signaling a bullish reversal with a 7.2% price surge on the 3-day chart. The recent price action highlights XRP’s strengthening
Latest News
- Bitcoin Spot Trading May Continue Decline as ETFs and Derivatives Show Growing Interest in Q2 20252025-07-16 11:58:04
- Matador Technologies Unveils Long-Term Bitcoin Acquisition Plan to Secure 6,000 BTC by 20272025-07-16 11:57:20
- Bitcoin May Face Resistance Near $124K–$136K with Support Around $101K–$113K, On-Chain Data Suggests2025-07-16 11:56:43
- Bitcoin May Face Limited Short-Term Decline Amid Rising Institutional Demand and ETF Adoption2025-07-16 11:41:27
- Pump.Fun Dominates Solana Token Issuance Market with 46.9% Share on July 162025-07-16 11:39:50