Why XRP Could Break Above $3.5 Prepared for Next Leg-Up

XRP fell below $3 again in the previous 24 hours. On January 15, XRP crossed $3 for the first time in seven years.

However, XRP's recovery above $3 suggests it might rise again, particularly after crypto pundits declared it dead for years. An study on TradingView predicts that the cryptocurrency may be ready for another major breakthrough, reclaiming $3 and surpassing $3.5 shortly.

XRP Maintains Equilibrium
Technical analysis of the 3-hour candlestick chart shows that XRP has maintained a stable position within an equilibrium zone despite intense cryptocurrency volatility in the days before and after Donald Trump's inauguration.

The study shows that XRP is trading in a wedge pattern, which usually precedes price changes. Interesting, this trend has been forming since January 16, when the asset peaked at $3.38 before correcting.

The wedge pattern's consolidation looks to be approaching its peak, which the expert believes indicates XRP's preparedness for its next leg up. Thus, the expert expected a strong recovery above $3 with a goal of $3.5 before any pullback.

Possible Risks: Weekly RSI Bearish Divergence

Technical analysis suggested a weekly RSI bearish divergence, but XRP remained bullish. When an asset price rises while the RSI falls, this divergence occurs.

Despite this danger, the analyst believes the wedge shape and consistent performance might override this bearish indication. Also positive is its sustained accumulation zone trading. Probably has happened if a major fall was expected.

If the cryptocurrency reaches $3.5, it will rise 18.5% from its current price and break over its $3.40 all-time high. This may be a short-term price aim. XRP's long-term predictions are much higher, from $7 to $20.

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