After enduring a sharp sell-off in recent sessions alongside broader market sentiment, XRP is showing early signs of a potential trend reversal, with technical indicators pointing to a possible 30% price move.
Analysis of the four-hour chart suggests that XRP had been consolidating within a symmetrical triangle pattern, a formation typically associated with tightening price action before a decisive breakout, according to insights shared by Ali Martinez in an X post on March 28.
The structure, defined by a series of lower highs and higher lows, reflects a market caught between weakening bullish momentum and diminishing selling pressure.
Notably, price action recently approached the apex of the triangle, hovering near the $1.34 to $1.36 range after failing to sustain a move above the upper resistance trendline near $1.50.
The repeated rejections at higher levels, combined with declining volatility inside the pattern, suggest that a breakout was increasingly likely as the range narrowed.
Notably, XRP now appears to be breaking out of its consolidation pattern, signaling a potential shift in momentum following the broader market downturn.
Such symmetrical triangle breakouts often lead to strong price expansion, with the move typically matching the pattern’s height, suggesting a possible 30% swing from the breakout level.
XRP price remains fragile
However, XRP sentiment remains fragile. The recent drop from around $1.50 to the mid-$1.30s points to a persistent selling pressure, even as XRP attempts to establish a new trend.
If the breakout holds, the cryptocurrency could reclaim key resistance levels and revisit pre-correction highs.
Conversely, failure to sustain momentum above the breakout zone could invalidate the setup, exposing XRP to further downside toward $1.28 or lower.
Overall, XRP has continued to trade under pressure this week. By press time, the asset was valued at $1.33, having declined about 0.65% in the past 24 hours.
On the weekly timeframe, the asset is also down 4.5%. The token has been trading in a tight range between $1.33 and $1.35 in the short term, showing limited volatility but clear short-term bearish momentum.
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