XRP/USDT Poised for Breakout from Symmetrical Triangle!

Pattern Identified: Symmetrical Triangle

The symmetrical triangle is a consolidation pattern formed by a series of lower highs and higher lows, converging into a triangle shape. It reflects market indecision and often precedes a significant breakout, either upward or downward, depending on momentum and volume.

🔍 Pattern Description:

Upper Resistance Line (Descending): Connecting the lower highs since February 2025.

Lower Support Line (Ascending): Connecting the higher lows since December 2024.

Consolidation Zone: Price has been moving sideways within the triangle, indicating accumulation.

Critical Breakout Level: Around $2.23 — the price is currently testing this resistance.

📈 Bullish Scenario:

If the price successfully breaks above the upper triangle resistance with strong volume:

Target 1: $2.5855 (previous minor resistance)

Target 2: $2.9534 (key historical resistance)

Target 3: $3.2781

Maximum Target: $3.40 (local previous high and psychological level)

Breakout Confirmation: A daily candle close above $2.30 with significant volume could signal a long entry.

📉 Bearish Scenario:

If the price fails to break out and instead breaks down below the lower trendline:

Support 1: $2.00 (psychological & horizontal support)

Support 2: $1.85

Major Support: $1.55 (strong historical demand zone)

Breakdown Confirmation: A daily close below the lower triangle boundary with high volume would signal further downside.

📌 Summary:

XRP is nearing the apex of a symmetrical triangle — a major move is imminent.

A confirmed breakout could trigger a rally towards $3.40.

A breakdown may lead to a drop toward $1.55.

Recommendation: Wait for confirmation before entering long or short positions.

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