XRP 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:

1. A pullback to the breached trendline offers a retest buy opportunity to potential buyers
2. A bullish crossover between the 20-and-50-day EMA attracts more buying orders in XRP
3. 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.

Source