XRP Enters New Market Cycle Phase, Analysts Eye Breakout
The post XRP Enters New Market Cycle Phase, Analysts Eye Breakout appeared on BitcoinEthereumNews.com. XRP has flipped multiple resistance zones into support, with $3 now acting as the key battleground. Market analyst Matt Hughes says breaking above $3 could trigger a parabolic move. Standard Chartered predicts XRP could rise over 300% to $12.50. Even as broader crypto sentiment has softened, some market watchers remain convinced that XRP is on the verge of its long-awaited surge. Technical analysts point to a maturing chart structure that suggests the asset’s next breakout phase is closer than many expect. XRP Flips Old Cycle Tops Into New Support, Building a Strong Foundation For instance, analyst Matt Hughes has outlined how XRP’s price action continues to flip former resistance zones into solid support levels. Using a Gann Fan on the weekly chart, Hughes showed that major resistance points from 2018 and 2021 have already been broken and turned into new foundations for growth. XRP has now traded above its 2021 peak of $1.96 for weeks without slipping below. The range that once capped its movements between $0.50 and $1 has long been left behind. More recently, the $3 psychological barrier has become the battleground, often reclaimed quickly after short-lived dips beneath it. Related: XRP Tops Crypto Market Ahead of October SEC ETF Decisions To Hughes, this behavior shows resilience in XRP’s structure, creating what he calls the strongest foundation yet for the next upward leg. Hughes’s XRP weekly chart with diagonal lines XRP’s Breakout Trigger: Analysts Say Flipping $3 Is the ‘Final Boss’ Currently priced around $2.80, Hughes identifies the $3 zone as the “final boss” within the Gann Fan model. If XRP can convert this region into lasting support, he argues it would trigger a parabolic move similar to past bull runs. For Hughes, the discussion is no longer about whether XRP can rally but when it will happen.…
The post XRP Enters New Market Cycle Phase, Analysts Eye Breakout appeared on BitcoinEthereumNews.com.
XRP has flipped multiple resistance zones into support, with $3 now acting as the key battleground. Market analyst Matt Hughes says breaking above $3 could trigger a parabolic move. Standard Chartered predicts XRP could rise over 300% to $12.50. Even as broader crypto sentiment has softened, some market watchers remain convinced that XRP is on the verge of its long-awaited surge. Technical analysts point to a maturing chart structure that suggests the asset’s next breakout phase is closer than many expect. XRP Flips Old Cycle Tops Into New Support, Building a Strong Foundation For instance, analyst Matt Hughes has outlined how XRP’s price action continues to flip former resistance zones into solid support levels. Using a Gann Fan on the weekly chart, Hughes showed that major resistance points from 2018 and 2021 have already been broken and turned into new foundations for growth. XRP has now traded above its 2021 peak of $1.96 for weeks without slipping below. The range that once capped its movements between $0.50 and $1 has long been left behind. More recently, the $3 psychological barrier has become the battleground, often reclaimed quickly after short-lived dips beneath it. Related: XRP Tops Crypto Market Ahead of October SEC ETF Decisions To Hughes, this behavior shows resilience in XRP’s structure, creating what he calls the strongest foundation yet for the next upward leg. Hughes’s XRP weekly chart with diagonal lines XRP’s Breakout Trigger: Analysts Say Flipping $3 Is the ‘Final Boss’ Currently priced around $2.80, Hughes identifies the $3 zone as the “final boss” within the Gann Fan model. If XRP can convert this region into lasting support, he argues it would trigger a parabolic move similar to past bull runs. For Hughes, the discussion is no longer about whether XRP can rally but when it will happen.…
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