- The symmetrical triangle formation of XRP indicates a potential outbreak, with analysts considering a price target of $ 6-if adjacent resistance levels are overcome.
- The upcoming hearing on the subject of cryptocurrencies in the US House of Representatives could affect the market perception of XRP and influence the mood of investors and the course development.
XRP dealers carefully observe a symmetrical triangle formation on the spa chart that could indicate an upcoming outbreak. Analysts suspect that, if it exceeds important level of resistance, the token could rise in the direction of $ 6. The pattern has been formed for weeks, the price movements intensify while approaching a outbreak point. In the meantime, an upcoming crypto hearing of the US representative house on April 9th XRP and other digital assets could influence.
Technical indicators signal outbreak
The price of XRP has consolidated within a symmetrical triangle, which is characterized by two convergent trend lines. The cryptoanalyst @DefendDark explained that an outbreak from this setup could drive the token to a short-term target of $ 6. As a rule, symmetrical triangles lead to strong price movements, either up or down, depending on the direction of outbreak.
Hi all!
I hope you are well! #XRP has touched our lowest Fibonacci level.
As stated, $2.222 is the key level and should be broken upwards.
We set $2.04 as our last Fibonacci level, and we can visit there again!
April-May will be hot, and our Targets of Wave 5 stand at… pic.twitter.com/j2JunirCkN
— Dark Defender (@DefendDark) March 30, 2025
The mandatory support point, which was determined by the Fibonacci retracement analysis, is $ 2.04, while the important resistance point is $ 2.2. An increase over the resistance of $ 2.20 would indicate an upward trend that could drive XRP into the possible price range from $ 5 to 8 in the medium term. Sea The price level of $ 2.222 is an essential predictor for the market activities of XRP, so April and May could play an important role in the token.
The Elliott wave frame matches the bullish perspective by the future movement of XRP through its defined sequence of fiveWave rated . The model shows how the market mood affects the price fluctuations and the profit behavior of the market participants if they opt for profit take. The upcoming movement of XRP in the direction of resistance levels will confirm the predictions of the dealers through price increases.
Development of regulation influences XRP course
The course of XRP could be influenced by upcoming regulatory discussions that will take place shortly. The US House Financial Services Committee will discuss the regulation of digital assets on April 9 as part of a hearing entitled “The Future of American Innovation and Digital Assets”. According to experts, the upcoming regulatory dialogue has an impact on XRP and similar tokens that are subject to regulation.
Public discussions had pointed out to the XRP and Ada of Cardano as possible candidates when US President Donald Trump considered the establishment of cryptocurrency reserves. The regulatory discussions about XRP could increase the attention of the market and influence the public mood.
No Comments