XRP (XRP) has underperformed the broader cryptocurrency market in 2024, but technical indicators suggest a potential significant rebound:
- Inverse head and shoulders pattern on the weekly chart indicates a possible bullish reversal
- Breakout above the neckline ($0.65-$0.66) could propel prices towards $0.90-$1.00 (100% increase)
- Trading above 50-week and 200-week exponential moving averages (EMA) supports the breakout narrative
- Large symmetrical triangle on the monthly chart suggests significant gains if XRP breaks above the upper trendline
- Projected upside targets $4.20 or higher based on the triangle's height
- Nearest resistance at $0.71-$1.05 (0.236-0.382 Fibonacci range)
- 50-month EMA at $0.526 acts as dynamic support
Remember, this article does not contain investment advice, and every investment involves risk. Conduct your own research before making a decision.
