XRP eyes a $2.52 breakout for bullish momentum, targeting $2.72, with potential highs at $5.85 and $8.76 in optimistic scenarios.
Indicators like the Ichimoku cloud and RSI Golden Cross show buying strength, boosting confidence in XRP’s upward trend.
Failure to hold $2.52 may lead to retests of key support levels at $2.29, $2.24, and $2.10 before further gains.
On the 4-hour chart, indicators converge, indicating a bullish breakout in XRP's price action. According to crypto analyst Dark Defender, the confirmation of a break is already visible at $2.40, with the daily timeframe needing a close above $2.52. If this happens, XRP may target short-term levels of $2.72, with further upside projections pointing toward $5.85 and $8.76.
Bullish Signals on the 4-Hour Chart
The 4-hour XRP/USD chart reveals consistent attempts to overcome a descending trendline that has defined a recent downtrend. This descending resistance line has acted as a cap, preventing the price from moving higher. However, XRP’s recent move toward $2.40 signals a possible shift.
https://twitter.com/DefendDark/status/1868363645778071843
Additionally, the price is consolidating just above the Ichimoku cloud, a bullish indicator for upward momentum. The Ichimoku cloud acts as a dynamic support zone. As long as the price holds above this green cloud area, it strengthens the case for further gains.
The Relative Strength Index also confirms bullish activity. The RSI Golden Cross has formed, where the purple RSI line crosses above the yellow moving average. This crossover signals a rise in buying pressure, a key indicator of momentum shifting in favor of the bulls. Moreover, the RSI is trending between 50 and 60, showing market strength after previous bearish moves.
Key Levels to Watch for XRP
On the upside, XRP must confirm a breakout above $2.52 to maintain its bullish trajectory. A successful close on the daily chart at this level could lead to a rally toward $2.72. Short-term projections from Dark Defender include ambitious price targets of $5.85 and $8.76.
These levels reflect growing market confidence as technical indicators align. However, failure to confirm the breakout may trigger a retest of supports near $2.29, $2.24, and $2.10. Additional support lies at $2.02, a critical level for defending bullish sentiment.
The post XRP’s Price Breakout Looms: $2.40 Breach Sparks Optimistic Projections appeared first on Crypto News Land.
