- XRP shows strong support, signaling a potential imminent breakout.
- Seller exhaustion clears the path for aggressive buying in XRP.
- Technical indicators point toward XRP targeting $2.70 soon
Crypto analysts are closely eyeing XRP’s price action as the cryptocurrency shows signs of a potential breakout in the near future. Following recent observations, Arthur, a well-respected figure in the XRP community, has highlighted several key factors that suggest XRP is positioned for a significant move.
In his latest X post, he presented a technical analysis pointing to a possible surge as early as tomorrow, driven by strong support levels, decreasing sell pressure, and a volume profile indicating a shift in market sentiment. According to Arthur, these technical indicators set the stage for XRP to potentially reach new highs, with a target of $2.70 on the horizon.
While the post was made on January 18, the technicalities highlighted in his tweet still apply, signalling that XRP is still on course for a possible significant move.
Strong Support and Seller Exhaustion Set the Stage for a Potential Breakout
The primary focus of Arthur’s analysis lies in the Volume Profile, which shows a concentration of trading activity at crucial price levels. The $2.06-$2.07 price range has emerged as a key support zone, with the Point of Control (POC) marking the area of most significant market interest. Arthur emphasizes that this zone is holding firm, with sustained high exchange activity signaling strong buyer defense.
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As long as this support level remains intact, XRP’s chances for a bullish breakout improve. Arthur also points to seller exhaustion as another crucial element for the potential price surge. The volume bars on the lower timeframes indicate a steady decline in sell pressure, a typical sign of capitulation.
When sellers give up in a high-interest zone, aggressive buyer absorption usually follows, leading to a potential upward price movement. With sellers exiting the market, buyers have an opportunity to step in and push the price higher.
A Breakout Could Push XRP Toward $2.70
Looking ahead, Arthur predicts that if momentum builds, XRP could aim for a price target around $2.70, a major liquidity pocket above the current price action. This level is expected to attract a significant wave of buying interest, which could propel XRP even higher. The chart shows that if XRP successfully breaks out from the current support level, the next logical target is $2.70, where substantial liquidity could further drive price growth.
The combination of strong volume at the key interest zone, declining sell pressure, and the structure of the chart suggests that a breakout is on the horizon. If XRP breaks through its resistance levels and builds momentum, reaching $2.70 could be just the beginning. As Arthur pointed out, these technical factors set the stage for XRP to make significant moves, potentially beginning this week.
XRP is showing all the signs of a potential breakout, with key technical indicators aligning for an upward move. The support zone around $2.06-$2.07 is holding strong, while a decline in sell pressure paves the way for buyer absorption. If this momentum continues, XRP could be on track to test new highs, with $2.70 marking the next major resistance level.
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