Is XRP Primed for a Bullish Breakout? đ
Despite a recent dip, XRP has gained 0.66% in the last 24 hours, and experts are eyeing a potential âhuge squeezeâ on the horizon.
XRP has dropped 5.29% since Monday, showing some weakness compared to other cryptos, but that hasnât dampened trader interest. With a 25.23% rise in 24-hour trading volume, hitting $615 million, the market is buzzing with anticipation.
According to trader Crypto Michael, the XRP/BTC chart is forming a massive squeeze, with an ascending triangle pattern building since mid-July. If XRP breaks through the tough $0.55 resistance, we could see a major pump.
The XRP/USDT chart also suggests an imminent breakout as it moves within a falling wedge pattern. Indicators are pointing toward increased volatility, but momentum is building:
RSI stands bullish at 60
Chaikin Money Flow (CMF) shows increased buying pressure at +0.1
MACD remains bullish, signaling another upward push
With Ripple hinting at the potential launch of its stablecoin this year, fundamentals could be the final spark for XRPâs next move.
Keep an eye on that $0.55 levelâif it breaks, things could get exciting.
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