XRPUSD will continue to PUMP

This chart shows XRP/USD forming a symmetrical triangle pattern, a type of consolidation structure where price moves into progressively tighter ranges. Such patterns often signify a period of indecision before the next big move.

Key Observations:

• Symmetrical Triangle:
  

The triangle consists of lower highs and higher lows, signaling a contraction in volatility.
This type of pattern generally resolves in the direction of the prevailing trend, which, in this case, seems to be upward.

• Projected Target:
  

The chart indicates a breakout scenario aiming for the $1.40 level.
This target aligns with the measured move technique, where the breakout projection equals the triangle's widest part added to the breakout point.

• Current Price Position:
  

XRP is trading near $1.1362, suggesting the price is approaching a decision zone.
A break above the upper trendline of the triangle would likely confirm bullish momentum.

• Support and Resistance:
  

Resistance lies around the triangle’s upper boundary (~$1.20).
Support is near the lower boundary (~$1.10).


Analysis:

• Bullish Scenario: If XRP breaks above the triangle, the upward momentum could quickly push toward $1.40.
  

• Bearish Scenario: A breakdown below the triangle would invalidate the bullish setup, potentially sending XRP to retest prior support zones near $1.00 or below.
  

Considerations:
Monitor for strong volume on the breakout to validate the move. A lack of volume might lead to a false breakout or a prolonged consolidation phase. Additionally, external market factors, such as Bitcoin's movement or macroeconomic events, can impact XRP's trajectory.