bullish

<ul class="wp-block-list">
 <li>XRP is nearing a breakout, with key levels at $1.10 support and $1.20 resistance showing tight price consolidation.</li>  
 <li>With a symmetrical triangle forming, the XRP price may move soon, especially if it breaks the $1.20 resistance.</li>  
 <li>Market watchers expect volatility, as XRP's breakout or breakdown may occur within the next 24 hours, targeting $1.30 or lower.</li> 
</ul>  
<p>On the 4-hour chart, XRP is displaying a <a href="https://cryptonewsland.com/pepe-prepares-for-a-bullish-rally-amid-symmetrical-triangle-formation/" target="_blank" rel="noopener noreferrer nofollow">bullish symmetrical triangle formation</a>. Consistent consolidation is seen in the chart, where lower highs and higher lows converge. As the triangle's apex approaches, the current price movement puts XRP in a position to potentially break out.</p>  
<h2 class="wp-block-heading" id="h-market-overview-key-levels-in-focus">Market Overview: Key Levels in Focus</h2>  
<p>Before falling to $1.10, XRP peaked at $1.20. However, buyers quickly stepped in, creating higher lows around the $1.10 support zone. Sellers, on the other hand, remain active at $1.20, defending the key resistance level. Consequently, the current trading range is tightly confined between these two zones.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXco4yN4vju4jN-mSpT_Yx0KdhpY6RlYsHh0LEC8DIKnzMgDfjNlzYg4mpyrNkJ0QM3kc6WaiuPYISGuUZYnoFlhxnWFmd0gO-PHkQm8AHd1j6HuggrD3P-Iqzw3MNyrpre-tD3NUw?key=F4vzBhxmwYgdODREauFWv-Hm" alt="">
</figure>  
<p>Source: <a href="https://x.com/CryptoBull2020/status/1858668733373522275" target="_blank" rel="noopener noreferrer nofollow">CryptoBull</a></p>  
<p>The chart shows that the lower trendline provides robust support. XRP has tested this level multiple times without breaking below. Additionally, the narrowing triangle reflects indecision among market participants, suggesting a <a href="https://cryptonewsland.com/xrp-approaching-major-bullish-breakout-trend/" target="_blank" rel="noopener noreferrer nofollow">potential breakout is approaching</a>.</p>  
<h2 class="wp-block-heading" id="h-potential-scenarios-breakout-or-breakdown">Potential Scenarios: Breakout or Breakdown?</h2>  
<p><a href="https://x.com/LeviRietveld/status/1858803907218043356" target="_blank" rel="noopener noreferrer nofollow">Market observers</a> expect a significant move as the symmetrical triangle's apex draws near. XRP may rise toward the psychological barrier of $1.30 if it breaks over $1.20. Additionally, the breakout might draw more buying pressure, which would increase the upward momentum. On the other hand, more bearish momentum might push prices lower if sellers force the price below $1.10.</p>  
<p>Notably, the symmetrical triangle is often an indicator of high volatility. This buildup of energy indicates a directional move is likely in the next sessions. However, the absence of visible RSI or volume data limits a deeper technical assessment.</p>  
<p>Crypto analyst CryptoBull emphasized XRP's bullish setup, noting the symmetrical triangle pattern. According to CryptoBull, the breakout could occur within 24 hours, with a target above $1.30. Moreover, the convergence of trendlines signifies balanced market forces.</p> 
<p>The post <a href="https://cryptonewsland.com/watch-1-10-and-1-20-levels-for-upcoming-volatility-is-xrp-ready-to-break-out/" rel="noopener noreferrer nofollow">Watch $1.10 and $1.20 Levels for Upcoming Volatility, Is XRP Ready to Break Out?&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Watch $1.10 and $1.20 Levels for Upcoming Volatility, Is XRP Ready to Break Out?

Table of Contents

Crypto News Land

Other articles published on Nov 20, 2024

SEC sends reparations to BitClave ICO investors

Russia rolls out fresh crypto mining limitations in areas with power shortages

Russia to ban crypto mining in the Russia-Occupied Ukraine territories

Why Microsoft Should Buy Bitcoin Now: Michael Saylor Preps for 3-Min Pitch

DWF Labs Launches New Fund for Meme Coins

Webull expands crypto futures offering with Coinbase Derivatives

Join our free newsletter for daily crypto updates!