- XRP shows signs of breakout, bullish momentum building for traders.
- Analyst predicts XRP could surge to $3.60 with breakout.
- Bollinger Bands suggest XRP’s volatility is about to spike upward.
XRP has been trading within a narrow range around the $3 mark for the past few weeks, leaving many traders uncertain of its next move. This sideways movement has led some short sellers to gain confidence, believing that the price may soon experience a downturn.
However, a closer inspection of the Bollinger Bands on the price charts paints a different picture—one that warns of a potential bear trap for those betting against XRP.
According to TradingView, the daily chart shows a critical level around $2.90, which has consistently acted as a point of reversal. XRP tends to dip below this midline briefly before quickly bouncing back.
On the other hand, any rallies above this level have typically stalled just shy of the upper Bollinger Band at $3.09. While the price action appears sluggish, it’s important to recognize this behavior as part of a pattern that could signal an imminent surge rather than a prolonged decline.
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A Breakout Could Be Closer Than It Appears
What makes this setup particularly noteworthy is the widening of the Bollinger Bands. As these bands begin to expand, they often indicate that a significant price move is on the horizon. In XRP’s case, the current tightness of the bands suggests that a breakout is imminent, and it may come sooner than traders expect.
On the 12-hour chart, the situation is equally revealing. Throughout August, XRP struggled to stay above the $2.90 midline, but a break above it in early September has shown signs of strength.
Source: Tradingview
Despite relatively low volumes, XRP has managed to hold its ground, and the expanding Bollinger Bands now point to increased volatility. The risk for short sellers is clear: if XRP continues to gain momentum, the price could shoot up quickly, catching bears off guard.
XRP’s Path to Higher Targets with Growing Market Interest
Adding to the growing optimism, analyst Ali (@ali_charts) predicts that if XRP breaks out from its current descending triangle, it could reach as high as $3.60. The key resistance level at $2.85 is critical, with a break above potentially triggering a surge. XRP’s ongoing inverse head and shoulders pattern further supports the case for a breakout.
If the $2.90 resistance is cleared, XRP may target $3.07, with further gains possible under favorable conditions. Growing market activity and liquidity provide the perfect conditions for XRP to make a strong move, boosting its potential as an asset to monitor closely.
XRP’s price action might seem uneventful on the surface, but deeper chart analysis reveals potential for a breakout. With Bollinger Bands widening and growing market interest, traders should be cautious of betting against the trend, as XRP could soon make a rapid upward move.
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