XRP Breakout Could Trigger Rally Toward $4
XRP nears a potential breakout as traders eye a strong daily close above resistance for a move toward $4.
- XRP trades near key wedge resistance on the daily chart.
- A breakout could push XRP toward the $4 target zone.
- Traders are watching for a strong candle close above resistance.
The XRP price is showing signs of strength as it approaches the upper boundary of a wedge pattern that has formed on the daily chart. Technical analysts note that a solid daily candle close above the top orange resistance line could signal the start of a new bullish phase.
This setup comes after weeks of sideways trading, where XRP consolidated within narrowing price ranges. The wedge pattern suggests that a decisive move is imminent — either a breakout or breakdown — but momentum indicators are leaning toward a bullish scenario.
Why the $4 Target Matters for XRP
If XRP manages to close above the resistance zone, many traders expect momentum to carry the price toward the $4 level. This target is based on historical resistance levels and Fibonacci extensions that align with previous bull runs.
A move to $4 would represent a major gain from current levels and could reaffirm investor confidence in XRP’s long-term potential. However, as with any technical setup, confirmation is crucial — false breakouts can occur, especially in volatile crypto markets.
Traders Watching for Confirmation
The next few daily candle closes will be key in determining XRP’s direction. A confirmed breakout with strong volume could attract more buyers and potentially kick off a broader market rally.
Until then, traders are keeping a close eye on the charts, waiting for that decisive move above the wedge.
