- Positive XRP chart patterns indicate a possible outbreak of up to $ 3.50 this month.
- The RSI divergence at XRP/BTC and the maintenance of solid support means that buyers have the upper hand again and that a 70% bull run is possible.
XRP begins June with a technical setup that has attracted the attention of investors and analysts. Several diagrams now indicate a possible price recovery in the direction of the $ 3 brand, after weeks of consolidation and another purchase interest. On-chain data, price campaign patterns and derivative market indicators have all shifted in favor of an interest bully scenario, which causes market observers to rethink previous levels of resistance as possible outbreak zones.
After a market -wide correction that started at the end of May, XRP managed to keep important levels of support and avoid a larger sale. While the sales of Bitcoin and other important assets are declining, XRP is resistant, supported by strengthening technical formations and an improved mood among dealers.
Falling wedge sets the goal at $ 3.20
One of the dominant technical patterns on the XRP weekly chart is a falling wedge. This interest bully reverse pattern is defined by narrowing trend lines and has signaled outbursts in the past as soon as the resistance has been broken. XRP is currently under pressure and has been traded at around $ 2.18 in the last few days.
If XRP succeeds above this line of resistance, this could trigger a movement in the direction of the pattern of the pattern at $ 3.20. This would mean an increase of 45 % compared to the current level. In addition, XRP continues to be above its sliding sections of the 50, 100 and 200-week line, which underlines the long-term interest bullish views.
The Onchain indicators support this statement. A closer look at the cumulative 90-day volume delta (CVD) The Spot truck shows a positive trend. This key figure shows the net purchase and sales activities over time. Since mid -May, the pressure on the buyer has overtaken the sales orders, which indicates that the market participants get back with interest bullies.
In April, XRP reached a low of $ 1.61 in the middle of strong sales. In mid-April, however, the asset again reached the $ 2 and has held this threshold. The shift in the CVD indicates that accumulation is underway. If the purchase orders continue to dominate, XRP could have the necessary support to climb through its short -term resistance levels.
Rising triangle builds up to 3.50
The daily chart shows another bulling pattern, an ascending triangle. This structure usually indicates consolidation before an outbreak. XRP has to break out at $ 2.60 via the horizontal resistance to confirm the pattern and possibly achieve a target of $ 2.91, as reported by CNF. That would mean an upward movement of around 60 % compared to the current course.
The triangle formed from the deep stalls in April after the XRP was quickly recovered. A measured outbreak would bring the asset back to its February level, which indicates that the recent pullback was more corrective than structural.
The couple XRP/BTC offers further support for upward movement. Despite lower price highs since 2019, the relative strength index (RSI) has risen steadily, from 41 to 67 in the mone. This divergence often indicates a declining moment of sales and possible reversal points.
The couple is now testing the resistance near the simple sliding 100-month average, which is between 0.00002530 BTC and 0.00003375 BTC. A breakthrough here would increase the profits of XRP/USD and the BTC couple could drive up 70 %, which corresponds to the price target of $ 3.
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