Sign Up on MEXCXRP Price Prediction: $XRP Price offers Last Pullback Opportunity Before a 25% Rally
XRP Price Prediction: After spending two months in a steady correction phase, the XRP price projects an early sign of upcoming recovery with the breakout of the falling channel pattern. On May 25th, the daily chart shows a decisive breakout from the pattern’s resistance trendline with an above-average volume action. This high momentum breakout indicates the buyers’ conviction to rise higher and reclaim lost ground. Here’s how interested trades could grab long entry opportunities with this pattern.
Also Read: How XRP Lawsuit Summary Judgment Could Change Ripple’s Relation With Banks
Key Points:
- A pullback to the breached trendline offers a retest buy opportunity to potential buyers
- A bullish crossover between the 20-and-50-day EMA attracts more buying orders in XRP
- The intraday trading volume in the XRP is $401.5 Million, indicating a 45% loss.
Source- Tradingview
By the press time, the XRP price trades at the $0.47 mark with an intraday gain of $0.25%. However, the daily chart has been showing rejection candles at the current price indicating an early profit booking from short-term traders.
This selling pressure could trigger a minor pullback in the XRP price and plunge it to the recently breached trendline. If the coin price shows sustainability at this level the buyers will obtain a suitable launchpad to initiate a fresh recovery rally.
The post-breakout rally could drive the XRP price 25% higher to hit the $0.582 peak.
Will XRP Price Hit $0.582?
A bullish breakout from the channel pattern signs the end of a correction phase in the XRP price. In theory, this pattern completion offers each swing high as a potential target and therefore, the prices are likely to be $0.485, $0.547, and $0.58 with sustained buying.
- Super trend: The XRP price is about to surpass the Downtrend neckline of this pattern, which indicates an additional confirmation for trend reversal.
- Relative Strength Index: An evident growth in the daily RSI slope reflects the growing bullish momentum in the XRP price.
- Bitcoin Will 200x From Here, Twenty One Capital CEO Says as BTC Breaks $117K After Fed Rate Cut
- BNB Chain Takes Lead in RWA Tokenization, Expert Sees BNB Rally to $1,300
- Grayscale’s GDLC Fund Holding SOL and ADA Gets SEC Nod for NYSE Debut
- Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?
- Ripple Partners DBS, Franklin Templeton To Launch Trading And Lending Backed by RLUSD
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
