Market watcher Ali sees big things ahead for XRP. In a tweet, he laid out how XRP’s sideways movement actually looks like a bull flag pattern – a signal that often precedes major moves up.
Moreover, he predicts breaking past $2.60 could set off a chain reaction pushing XRP toward $4 or higher. His Fibonacci analysis backs this up, showing XRP flexing its muscles at key price points.
What you'll learn 👉
XRP Price Movements and Consolidation
XRP has seen an upward movement, up to around the $2.60 mark before entering a consolidation phase. This consolidation forms a classic bull flag pattern, characterized by two downward-sloping parallel trendlines that outline a descending channel.
Such patterns often signal continuation of a prior upward trend, provided there is a successful breakout. Currently, XRP is trading around $2.66, holding just above the $2.60 resistance zone.
The upper boundary of the bull flag is under pressure as buying momentum builds, indicating the potential for a breakout. If the price holds above this resistance, the stage could be set for further gains.
Key Resistance and Support Levels
Ali’s analysis identifies $2.60 as a pivotal level for XRP.
A sustained close above this point would confirm a breakout and could trigger significant price momentum. Fibonacci extension levels provide a clear roadmap for potential price targets:
- Immediate levels above $2.60 include $2.67 (1.272) and $2.93 (1.618), marking short-term milestones.
- Higher projections include $3.63 (2.414), $3.83 (2.618), and $4.25 (3.0), aligning with Ali’s ultimate target.
On the downside, support remains robust between $2.17 (0.5 Fibonacci retracement) and $2.24 (0.618 retracement). A further buffer exists at $2.34 (0.786 Fibonacci), reinforcing bullish momentum as long as these levels hold.
Read also: Bitcoin (BTC) Price Faces Potential Correction – Here’s Why
Breakout Potential and Bull Flag Setup
The bull flag pattern is a key focus in Ali’s analysis. This setup is widely regarded as a bullish continuation signal, particularly when accompanied by rising volume. With XRP close to the flag’s upper trendline, it indicates growing buying interest. This may push the price in the direction of the next targets.
If XRP breaks out, the first target, or the 1.618 Fibonacci extension, will be $2.93. Then, the higher levels of $3.63 and $4.25 come into play, giving clear benchmarks to watch.
In line with Ali’s prediction that the price might rise as high as $4.25, XRP’s consolidation within the bull flag pattern prepares the ground for a possible surge. Continued strength above critical levels will be essential for this bullish trajectory to materialize.
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