$XRP breakout might happen in two days: Key pattern to watch

$XRP 's price chart reveals an interesting setup, as the asset is trading hands within a descending price channel, suggesting a potential breakout on the horizon. Following a parabolic rise, the asset is in a consolidation phase, with its price maintaining higher lows and demonstrating resilience close to the $2.30 support level, which indicates bullish momentum. The consistent trading volume and a relative strength index hovering around overbought levels further affirm XRP's fundamental strength despite recent declines. The upper boundary of the descending channel, currently at $2.40, is a critical level to monitor, as a decisive break above it could propel $XRP back to previous highs. If XRP fails to break out, there could be another chance for accumulation should a retest of the lower support level near $2 or the 26 EMA occur. If a breakout takes place, the next target might be $2.80, and then the psychological barrier at $3. As XRP approaches the peak of the descending channel, the next 48 hours will be critical. A resolution of the current pattern is likely to lead to a continuation of the trend, especially if trading volume stays strong.