Based

Read

<p>The <a href="https://captainaltcoin.com/this-metric-shows-how-ripple-xrp-price-could-see-its-next-13x-price-surge/" target="_blank" rel="noopener noreferrer nofollow">price of XRP has surged</a> lately, reaching levels not seen in years with an increase of over 120% since the beginning of November. However, the price started to consolidate five days ago, since November 16, forming a triangle pattern on the 1-hour and 4-hour charts.</p>
<p>The top of this triangle pattern has consistently served as resistance, while the base is providing support.</p>
<p>The price is now reaching the tip of the triangle pattern, where it could be squeezed, leading to a potential breakout either bullish or bearish.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-1024x480.png" alt="" class="wp-image-585607" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-1024x480.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-767x360.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-1536x721.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-2048x961.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-320x150.png 320w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-746x350.png 746w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720-788x369.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-720.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Based on price action, XRP’s breakout could be either bullish or bearish, as there is space on the chart for either move.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/cardano-ada-to-kickstart-new-uptrend-if-price-closes-above-this-key-level/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA) to Kickstart New Uptrend if Price Closes Above This Key Level</a></em></strong></p>
<h2 class="wp-block-heading" id="considerations-for-bearish-and-bullish-moves">Considerations for Bearish and Bullish Moves</h2>
<p>After XRP broke out of a <a href="https://www.axi.com/int/blog/education/descending-triangle-pattern" target="_blank" rel="noopener noreferrer nofollow">descending trendline pattern </a>that had held the price since June (on the daily timeframe), the price continued to rise for a long time with little to no retracement. If the price breaks below the triangle, we could see a retracement towards the top of the broken descending channel at around $0.70.</p>
<p>On the other hand, a breakout above the triangle could trigger a bullish continuation, pushing the <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> price to new heights.</p>
<figure class="wp-block-image"><img decoding="async" src="https://captainaltcoin.com/0fb1b40f-1580-4539-b2b5-76d1e853c6f4" alt="">
</figure>
<p>The relative strength index (RSI) is currently at 60 on the 4-hour chart, indicating that there is still room for some growth in the short term. This allows for the possibility of an increase in the event of a bullish breakout.</p>
<p>The <a href="https://altfins.com/knowledge-base/crypto-momentum/" target="_blank" rel="noopener noreferrer nofollow">MACD histogram</a> is also showing slowing bearish strength, reflecting an increasing bullish market sentiment. Overall, the price must first break out of the triangle pattern to determine the next direction.</p>
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<p>The post <a href="https://captainaltcoin.com/volatility-ahead-for-ripple-xrp-as-impending-breakout-looms-where-is-price-headed-next/" rel="noopener noreferrer nofollow">Volatility Ahead for Ripple (XRP) as Impending Breakout Looms: Where Is Price Headed Next?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Volatility Ahead for Ripple (XRP) as Impending Breakout Looms: Where Is Price Headed Next?

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