XRP triangle pattern signals bullish breakout
The post XRP triangle pattern signals bullish breakout appeared on BitcoinEthereumNews.com.
Key Insights: XRP must defend $2.70 and break $2.90 to aim for a $3.70 bullish target. Elliott Wave count shows support near $2.65, keeping the bullish triangle setup valid for XRP. XRP/BTC retests support with RSI near 29, suggesting potential rebound backed by past market moves. XRP triangle pattern signals bullish breakout with $3.70 target ahead XRP is trading near a key support level as analysts point to a possible breakout above $3.70. Market watchers see bullish signs forming around the current price action, supported by technical indicators and chart patterns. Analyst Projects Upside Toward $3.70 XRP’s price action forms a descending triangle pattern. According to Crypto analyst ali_charts, XRP needs to hold $2.70 in support to confirm a bullish outlook. He stated that a bounce from this zone and a move above $2.90 could open the way to $3.70. Potential Breakout | Source: X Ali’s forecast outlined Fibonacci retracement levels with zones at $3.05, $3.14, and $3.26. These levels are seen as checkpoints before reaching the projected resistance range of $3.66–$3.70. Elliott Wave Count Supports Bullish Setup However, Trader Matthew Dixon has also identified a bullish setup for XRP using Elliott Wave analysis. He describes the current move as an E-wave overshoot that falls within the 68% to 78% retracement zone of the earlier C wave. Based on Dixon, the triangle pattern is still valid, and the E wave appears to have ended around the $2.65 level, near the 0.786 Fibonacci level. This area is just under the $2.75 support zone. XRP Bullish Setup | Source: X This setup keeps the bullish count alive, but warns that any sharp move below $2.65 would cancel this scenario. The next resistance is near $3.80 if the pattern holds. XRP/BTC Pair Shows Rebound Signs Meanwhile, Analyst Cryptoinsightuk is tracking the XRP/BTC pair,…
