Eyeing $0.80 and $1.00 Targets

12 בנוב׳

📊 XRP is approaching a potential breakout from a long-term descending triangle pattern. The current price action is building pressure near the resistance trendline, indicating a possible upward move if a breakout occurs.

🔑 Key Target Levels:
First Target: $0.80 - If XRP breaks above the trendline resistance, the $0.80 level may serve as an initial resistance.
Second Target: $1.00 - A psychological and historical resistance level; a break above $0.80 could push XRP towards this level.
Support Levels:

🔴 Primary Support: Around $0.54 - This level provides strong support if XRP fails to break out and experiences a pullback.

👉🏼 A confirmed breakout above the triangle pattern could lead XRP to test $0.80 initially and then potentially aim for $1.00. However, failure to break above the resistance may lead to a retest of support near $0.54 before another attempt at an upward movement.

Note: This analysis is provided for informational purposes only and should not be taken as a buy or sell signal.