XRP Price Today: XRP Forms Bullish ‘W’ Pattern as Traders Eye Breakout Above $2.53
XRP is consolidating near resistance, showing a bullish 'W' pattern, but traders await a confirmed breakout above $2.53 amid mixed whale activity.Summary
The XRP price, trading around $2.45 with a 34% surge in 24-hour volume, is consolidating near critical resistance after gaining 8.75% over the past week. Technical analysts have identified a bullish 'W' pattern on the 12-hour chart, suggesting a potential reversal, with a key breakout target set above $2.53, which could lead to $3.25 if confirmed by volume. However, sentiment is mixed due to recent whale activity, where large holders sold 90 million XRP, contributing to a price drop from $3.30 to $2.30. Despite this, retail interest appears to be picking up, with XRP wallet growth hitting an eight-month high. The immediate technical outlook shows strong resistance between $2.43 and $2.65, where multiple moving averages converge; a daily close above $2.70 is required for sustained upward momentum, while failure to break out could see prices retreat toward the $2.15 support zone.
(Source：Brave New Coin)