XRP is trading around $2.25, holding above the key $2.20 support level which may indicate a potential rally as it tests resistance at the top of a descending channel.
Analysts suggest XRP may be entering a decisive phase with the possibility of a parabolic rally ahead due to strong coiling and accumulation behavior, hinting at an imminent breakout.
Market analyst Crypto Michael anticipates a bullish trajectory for XRP following a long-term symmetrical triangle formation on the price chart, with potential upside not fully reflected by current prediction models.
Technical indicators, including Fibonacci retracement levels and chart patterns, support a bullish thesis, potentially leading to a breakout that could signal the start of a new bullish phase for XRP.