XRP shows early signs of a potential breakout as it trades just beneath a critical resistance zone between $2.45 and $2.46. Market observers closely watch this level, which marks the upper boundary of a broader descending channel.
Recent momentum has strengthened, with XRP climbing approximately 11 percent over the past week. Ali Martinez, a prominent crypto analyst on X, noted that on May 10, a significant shift occurred on the XRP chart, pushing the SuperTrend indicator to flash buy signals.
Source: Ali- Charts
For the unversed, the SuperTrend is a technical tool that uses price action and volatility to identify trend direction. When XRP breached the SuperTrend limit above the line, the signal turned bullish, indicating that the asset might move upward.
Also Read: Expert Exposes How XRP Price is Manipulated by Bots, Says the Truth Will Shock You
Additionally, XRP has overcome all major moving averages, including the 10-day, 50-day, and 200-day lines, which further support the bullish forecast. The Relative Strength Index stands at 61, a figure showing that the momentum is bullish but not overbought.
Source: Tradingview
The Moving Average Convergence Divergence (MACD) indicator also complies with price rise prospects. These indicators suggest that XRP is gaining the strength to possibly break above the present resistance level.
Symmetrical Triangle Pattern Builds Breakout Hopes
Martinez also identified a symmetrical triangle formation on the XRP price chart, which typically signals a continuation in trend if a breakout follows. If XRP breaks out of this pattern, it could trigger a rally with projections reaching as high as $15, though this remains speculative and dependent on confirmation.
Source: Ali-Chart
Various attempts by bulls to test the $2.46 support price have thus far not led to a breakout. If the price fails to establish itself at such levels, we might expect XRP to drop again toward the $2.25–$2.16 range, backed by essential moving averages.
Apart from what the charts reflect, there have been recent positives in XRP’s core situation. Ripple and the U.S. Securities and Exchange Commission agreed to withdraw their appeals in a common court appeal on May 8, marking what may be a resolution to the pending suit.
It could welcome closure to an existing problem that has impacted XRP’s value since the beginning of 2020.
Institutional interest is also picking up, as April saw the launch of a leveraged XRP ETF, while spot ETF applications from Franklin Templeton and Bitwise are pending regulatory decisions. These moves show a growing rationale behind XRP’s long-term promise.
Conclusion
With a fresh SuperTrend buy signal, favorable momentum indicators, and improving fundamentals, XRP is positioned at a key technical point. A confirmed breakout above $2.46 could shift sentiment and initiate a new upward leg, bringing the $15 projection into sharper focus.
Also Read: Expert Says 95% of Investors Will be Left Out When XRP Takes Off – Here’s Why
